Looking for a flexible line of credit of up to $500,000 for your business? Consider what GetCapital has to offer.
This line of credit loan from GetCapital is an option to consider if you're looking to finance international supplier purchases for your business. You can take advantage of a convenient online application as well as a relationship manager that will help you through the lending process. You can apply for a line of credit between $5,000 and $500,000.
|Product Name||GetCapital Import Line of Credit|
|Max. Loan Amount||$500,000|
|Min. Loan Amount||$5,000|
|Loan Term||6 months to 4 years|
How does an Import Line of Credit from GetCapital work?
You can apply for this line of credit online and it takes just 60 seconds to get started if you meet the eligibility criteria. You can apply for a credit limit between $5,000 and $500,000.
Repayments need to be made weekly via direct debit. You can draw up to your limit throughout your loan term as long as you keep making ongoing weekly repayments via direct debit. Once you repay funds they become available again, and you can repay and redraw as you like. Keep in mind that fees apply for this loan.
Features on offer with the Import Line of Credit from GetCapital
When you apply for an Import Line of Credit from GetCapital, you'll have access to the following features:
- Credit limits. You can apply for however much credit suits your needs, with limits of between $5,000 and $500,000 being available.
- Easy repayments. You repay the loan via a weekly direct debit, and since the monthly interest rate is from 0.87% (depending on your risk profile) you can budget easily.
- Revolving credit line. Once you make repayments on the loan, the funds become available again. This is for the entire loan term, which is for 6 months to 4 years .
- Access competitive exchange rates. You can access competitive foreign exchange rates through GetCapital's preferred partners.
How much does this Line of Credit cost?
The following fees and charges are associated with this loan:
- Interest rate: Monthly fixed rate from 0.87%* (this may change based on your risk profile)
- Direct debit fee: $3.85 charged weekly
- Drawdown fee: 2% of the drawdown amount.
How you can apply for GetCapital's Import Line of Credit loan
If you're ready to apply with GetCapital, click "Go to Site" to get your online application started. First, check that your business meets the following eligibility criteria:
- Your business has been trading for at least nine months
- You have $10,000 in sales per month
- The loan will be for 100% business use
You'll need your name, contact details, business name, requested loan amount and current monthly turnover for the initial application, following which you will need to provide supporting documents. If you're approved you will receive a loan offer and a relationship manager will help you through the rest of the loan process.