Funds readily available through a line of credit are essential for preparing and handling unexpected expenses.
Truly amortized product, where you only pay interest on money that is drawn from line.
Unsecured programs, no collateral needed, up to $250,000.
Annual Interest Rates are Prime (8.5%) + 0% to 2%.
Funds that are Available When You Need Them Most.
Marketing projects often require large sums of money upfront or in the development phase which may not be possible without proper financing arrangements. As you grow your Marketing Company, lines of credit can be used to afford anything from staff payroll to advertising to attract new clients.
A Quick and Easy Process from Start to Finish.
Finding the perfect line of credit facility for your Marketing Firm is now easier than ever! Our underwriting team works closely with you every step of the way to ensure your business can qualify for the best available commercial credit program.
To qualify for a line of credit, your marketing company should have demonstrated profitability on the most recent filed business tax return. This showcases your ability to afford payments after drawing funds from the line of credit. Even if your last tax return shows net losses, you may still be eligible.
Certain expenses (non-taxables) on the return can be "added back" to the net profit amount, bringing your business to a qualifying requirement.
Examples of expenses that may be added back in are certain interest paid on borrowed money and depreciation expense incurred by use of equipment or real estate owned by company's members other than owner/officer/partner who is requesting loan.
Bright Marketing was growing quickly by adding new clients every month. But Ana struggled to fund projects upfront while waiting for client payments. When Bright won a major contract to handle a product launch campaign, Ana didn't have the $20k on hand to start. She reluctantly had to ask the client to pay 50% upfront. That's when Ana discovered Line of Credit Depot. She qualified for a $50k business line of credit With her new financing, Ana had the flexibility to take on the product launch without large upfront deposits. She executed a buzzworthy campaign that exceeded the client's goals. The launch was a big success. The client was thrilled and paid their balance owing quickly. Ana put that revenue towards paying down her credit line. Thanks to her active credit facility, Ana can now scale Bright Marketing faster. She plans to double her team and go after larger contracts in the next year. Ana tells us: "Getting set up with a line of credit gave me the working capital power to grow my marketing firm on my terms. Line of Credit Depot was a game changer for scaling my business in Austin!
Why would marketing companies benefit from a line of credit? The best use of borrowed money is to make more money with it! As an owner of a marketing company, you would most likely agree that your firm usually doesn’t buy products to sell, but charge clients for services. These services may have hard costs associated with them and can be utilized by the marketing company and sold to clients for a premium. Some of our marketing firms use a line of credit to function in this application. For example, if you bought advertising for a client and charged a fee based on management of the advertising spend, then you are leveraging line of credit funds as a reason to charge for a service.
People not in the marketing industry don’t understand all the moving parts and expenses associated with marketing. The copywriting, graphic design, copywriters, software and subscriptions…these things all add up. If a marketing company is waiting on Accounts Receivables to come in, they can use cash from the line of credit to pay for operation expenses and keep freelancers and/or employees paid.
When you are considering using a line of credit to help finance your marketing business, keep in mind that banks are all different. So even if you have been declined from the bank before, or just don’t know where to start, please apply here with a no obligation check to see what line of credit programs your marketing firm would qualify for.
Marketing companies can benefit immensely from a business line of credit. We have seen marketing firms, both small and large, expand their business with credit facilities from traditional banks.
When you are applying for a line of credit for your marketing firm, it’s important to understand what banks are looking for. You can check to see the general requirements for approval by checking your state here. Generally, banks are looking at these factors when analyzing a marketing firm for a line of credit. Keep in mind that the requirements for your business will differ by industry as well as State and other factors.
Each bank is different, so you should apply here to see what your marketing company can qualify for.