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