Line of Credit
Keep your business moving forward
Borrow between $2,000 – $250,000
Repay over 6 months or 12 months
Only pay interest on what you use
What is a line of credit?
A line of credit is an available balance of cash that you can draw upon at any time.
What do you need a Line of Credit for?
How does Propell work?
Line of credit vs traditional loans
Here’s how a line of credit compares to some of the other options available for small business owners.
Propell Line of Credit
No annual fee
Cash, not credit
Pay interest only on what you use
Considers business activity, not personal credit history
Fast online application
No rewards program
Traditional bank loan
Cash, not credit
Full amount is interest bearing
Small businesses can find it hard to get approved
Lots of paperwork
Ongoing fees
No rewards program
Bank overdraft
Cash, not credit
You need to go into the bank to apply
No set repayment schedule
Credit Card
Rewards program
Fast application
Great if you can repay full monthly amount
Annual fee
Usually lower limit than other options
Credit, not cash