What is the Leading Business Line of Credit in 2022

What is the leading business line of credit in 2022

Written by Bienvenu Mavakala

May 24, 2022

2022 has so far been good for business owners. A line of credit or LOC is an account that allows you to borrow money from lenders, the money is transferred directly to your LOC letting you immediate access to the loan.

The amount can be transferred in a line of credit through checks or account transfers. LOC services are available from many banks and financial institutions.

Business lines of credit are different from personal ones. A business line of credit does not require a guaranteed asset against the loan. It is easier to get and more convenient for startups.

Types of the business line of credit:

A business line of credit is a big resource for your business; we’ve learned the many benefits it can give to you from an investment point of view and how it can bring about a change in your business by providing a sufficient loan amount for both short and long term business goals. A business line of credit comes in two different forms depending on the type of business and its requirements-

  1. A secured line of credit
  2. An unsecured line of credit

A secured line of credit: A secured line of credit requires a guarantee or a collateral asset to get credited for your business. If you’re going for a short-term loan you can keep any short-term asset in parallel for that. The asset is possessed by the lender in case you’re unable to repay the loan. This is why it is called a secured line of credit.

An unsecured line of credit: Unlike a secured line of credit, an unsecured line of credit does not require any asset to be kept along as a guarantee for the loan. The interest rate of an unsecured line of credit is slightly higher compared to the secured one. For this very reason, most businesses would opt for a secured line of credit through the procedure to get an unsecured line of credit is much easier and shorter.

Is a line of credit advised for a small business?

Experts suggest a line of credit is great for businesses that are looking for an increased business capital with the flexibility of withdrawing your amount whenever you need it.

The plus side is that there is a line of credit options for start-up businesses as well. You can apply for a startup business line of credit and get a sufficient amount to invest in your growing business.

The best business line of credit in 2022:

Different companies are providing a line of credit service to businesses. Based on the services provided by them and the ease of access, we have listed down 8 best lines of credit here-

*LOC refers to the line of credit-

  1. BlueVine LOC: BlueVine is considered one of the best business lines of credit for 2022. The tagline they go by, Borrow-Repay-Repeat itself is very appealing to many businesses and shows how it is made much easier for the business owners to go with the flow and borrow money whenever they need it.
  2. Fundbox LOC: Fundbox has been trusted by business owners since 2013, it is one of the latest technological ways of investment that help small businesses get substantial capital for their business without having to deal with big banks and providing all the guarantees. Fundbox offers you funds in portions instead of a big lump sum amount, this helps businesses manage finances in a better way by having portions of investments.
  3. OnDeok LOC: Ondeck line of credit helps investors through readily available loans. You have the option of withdrawing your amount whenever you want. Ondeck line of credit is preferred by many business owners and is rated higher in the list of the top line of credits in 2022.
  4. US bank LOC: If you have an existing business that has been in the market for a while, you can go for a US bank line of credit. It is recommended by experts and makes its place on the list of the top business line of credit for 2022.
  5. TD bank LOC: This is another great line of credit in 2022; emerging businesses have been enjoying the benefits of TD bank line of credit as it allows interest-only payment methods to businesses.
  6. SBG funding LOC: If you’re struggling with your working capital, SBH funding can be a good option for you. SBG funding helps businesses improve their working capital and boosts revenue generation.
  7. Headway capital LOC: Some businesses prefer longer repayment times. While it may seem like a hassle to continue repaying for a longer time, it can be suitable for your business depending on the nature of your work.
  8. Credibly LOC: Having an optimal credit limit can reduce the options for types of loans available for your business. A credible line of credit helps businesses get a loan to increase their capital without having to worry about maintaining a credit score. You can get a loan even with an optimal credit score.


Depending on the application procedure and the eligibility requirements different business lines of credit are ranked by authorities. The flexibility a line of credit offers is undeniably the biggest attraction for businesses.

If you’re running a business you would know how crucial gathering funds for your business is. Having a reliable source for funds and that too with the flexibility of withdrawal is something any business would want.

A business line of credit offers growth by providing finances to your business for hiring new employees, buying new equipment, or stocking up extra inventory. Line of control is prominently different from general loans, as they are constantly revolving ie- you get the loan to generate revenue payback and then get a loan again.

All businesses struggle with finances at one point or another in the journey of building a sustained name in the market. A business line of credit can help you get to your goals by helping you with your working capital and increasing your assets with financial stability.


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