When you apply for a line of credit, you supply us with certain financial information about the business and business owner. Our underwriters reach a determination of the level of funds that will be made available in the line of credit.
As needed, you transfer funds from the line of credit to your checking account for use in the business. You then make payments back to the line of credit to pay it down, freeing up credit for business use.
In concept, it is similar to the way a Visa or MasterCard works, allowing you to spend money as needed, pay it down each month, and draw additionally against the line as needed.