Most businesses, when looking for capital, head on over to their local bank. It’s a logical move. The business has a deposit account at the bank, perhaps for many years. 

The chances that your bank will approve you will depend on certain factors about your business, BUT the main underlying factor is your bank's approval ratio. This is the ratio of applicants for line of credit compared to the amount approved. When you chose to open your business bank account at this bank, odds are that you weren’t thinking about if the bank approved a large ratio of business lines of credit. But now that you are looking for a line of credit, this fact is valuable to you.

Your banker will not tell you if you are declined or approved until you apply. This means that you will be asked to sign a credit application where your credit will be run. Credit inquiries like these will cost you about 4-8 points on your score. Imagine if you applied to many banks at once!

9 out of 10 times your bank will deny your application and ‘start you off’ on a business credit card. Obviously you can’t really finance a business with a credit card. Most businesses need cash flow assistance, not purchasing power.

 With Line of Credit Depot we DON’T run your credit upfront. This means that your credit won’t be affected by applying to multiple banks.

We have a large network of local and national banks that give our customers business lines of credit. We only work with small business friendly banks that give a high ratio of approvals.

Line of Credit Depot is the smart approach to getting your business a credit line. Why would you go to your bank when you can be introduced to many banks that want to give you a business line of credit.