‘Best’ is a relative term. The act of a financial institution lending money means that they must take into account ‘risk’. The cost of the financing is actually an interpretation of the risk that the lender is gauging, based on the credit worthiness of the borrower/applicant.

‘Best’, as it relates to financing, isn't just about cost (rate). Other mechanics such as term, ease of use and type of financing also affect the sliding ‘best’ scale.

Its important to realize that the ‘best’ isn’t so, but the ‘best that my business can qualify for’ is a bit more realistic.

For example, if you state that a particular financing for your business is ‘expensive’, it’s all relative. When does ‘expensive’ get replaced with ‘best that is available for my business’.

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The ‘best’ rates for business financing depend on the risk. So besides the creditworthiness of the borrower, it also depends on the collateral. A Secured Line of Credit will be the cheapest, as this is guaranteed by an asset, so in the event of a default, the bank has leverage. An unsecured line of credit is going to be slightly more expensive, since there is no collateral. Lets say your business is approved for an unsecured line of credit at 6%....this is not the ‘best rate’ on a line of credit, but it’s the best rate you can get, since your business doesn't have any collateral.

Are you constantly using the same type of financing and tired of super expensive costs? Have you ever considered that your business could be approved for less expensive financing?

If you haven’t ever checked or learned the reasons why you can or can’t get a business line of credit, what are you waiting for? Would you be surprised if you were approved? Even if you were declined, at least you know that this ‘best’ isn’t available to you right now.

I always tell my clients that it’s best just to apply (there is no cost and no credit check). If you don’t apply, you’ll never know. To put it in perspective, every business who has a line of credit applied for it….they don’t just get given to you randomly.

To start your business credit line, the first place to start is by completing a no-obligation, no credit check, no fee application: here.