- Less stringent approval criteria
- Quick turnaround time
- Rewards like cash back or 0% intro. interest rate
- Interest paid may be tax deductible (unlike personal cards)
- May help build business credit score
- Can use for any business need
- No collateral required
- Higher interest rates than bank credit lines (13% – 25%)
- Variable interest rates could move higher
- May have annual fee
- Limited funding amount (max usually $20,000)