Business Line Of Credit
Use this versatile financing tool to help manage your business cash flow or generate short-term funds
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Working Capital Line Of Credit
A business line of credit or working capital line of credit from Royal Credit Union is a flexible option to keep your day-to-day operations running smoothly despite peaks and valleys in your business income and expenses.
Borrow & Repay Over & Over
Like a credit card, a business line of credit provides the option to borrow funds against a credit limit. You can borrow and repay over and over again. This makes a line of credit a versatile option for covering income gaps or seasonal lulls for your business – you can charge expenses during a gap, and pay them back during higher-income periods.
Smart Short-Term Funding
A working capital line of credit is typically used for short-term funding, like when you need to cover just a few months of operating expenses. The flexible structure means you can borrow just what you need at the time, instead of paying interest on a larger sum than you would use.
We Work With Businesses Large Or Small
As a local business lender, we love being part of our community stories. Use our online application to apply for a business line of credit today, or ask us a question. We’re proud to provide friendly service, low origination costs, and quick lending decisions.
Meet Royal's Business Member Kul Mocks
Frequently Asked Questions
What is a business line of credit at Royal Credit Union?
Royal’s business line of credit, also called a working capital line of credit, is a flexible financing option to help manage your business cash flow or generate short-term funds. Similar to a credit card, it provides the option to borrow funds against a credit limit and repay over and over again, making it a versatile tool for covering income gaps or seasonal lulls.
How does Royal’s business line of credit work?
Royal’s business line of credit lets you borrow and repay repeatedly against an established credit limit. This makes it a versatile option for covering income gaps or seasonal lulls for your business, and the flexible structure means you can borrow just what you need at the time that you need it.
Do I only pay interest on the amount I borrow?
Yes. You only pay interest on the funds you've drawn, making it a cost-effective option compared to taking out a lump-sum loan for short-term needs.
Can I borrow from my line of credit more than once?
Yes! Royal’s business line of credit lets you borrow and repay over and over again, up to your approved credit limit. Each time you repay what you've borrowed, those funds become available for you to use again.
What is the difference between Royal’s business line of credit and business credit card?
Both a business line of credit and the Business Rewards Visa® credit card offer revolving access to funds, but they serve different purposes. Royal’s business line of credit is typically used for short-term working capital needs, like covering a few months of operating expenses during income gaps or seasonal lulls. Royal’s Business Rewards Visa credit card offers flexible spending power for everyday business purchases and includes added benefits like uChoose Rewards, no annual fee, and no-fee balance transfers. The credit card also supports individual spending limits per cardholder and separate cards for different areas of the same business. If your business needs a larger pool of short-term funding to manage cash flow, a line of credit may be the better fit. If you're looking for a convenient way to manage daily expenses while earning rewards, the Business Rewards Visa credit card could be the right choice.
