As a manufacturer, quick access to capital is crucial for smooth operations. You need to cover variable expenses like payroll, inventory, and equipment repairs when the need arises. An unsecured line of credit can provide that flexible working capital without the need for collateral.
What is an Unsecured Line of Credit?
With an unsecured line of credit, you do not have to put up any business or personal assets as collateral. Approval is based on the financial strength of your business including revenue, time in business, and credit score.
Benefits for Manufacturers
- Retain asset ownership - Avoid tying up collateral
- Quick funding - Can be approved in just hours or days
- Flexible access - Only tap funds as required
- Conserve capital - No need to take out a lump sum
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Why are Unsecured Lines Beneficial?
Compared to secured financing options, unsecured lines of credit offer manufacturers key advantages:
- Preserve equity in owned machinery and real estate
- Avoid monthly payments when not using the line
- Lower risk - Pay interest only on what you draw
- Build business credit history and relationships
Start Small and Scale Up
With unsecured lines, manufacturers can start small with a $10,000 revolving credit line. As your needs grow, the line can be easily increased up to $250,000 or more.
Ready to Apply?
Our quick online application makes getting an unsecured line of credit simple. Tap into affordable, flexible working capital for your manufacturing business today!
