SOURCE: New Business Funders

New Business Funders

June 07, 2016 16:58 ET

New Business Funders Releases Guide That Compares Pros & Cons Between Startup Loans vs. Line of Credit

SCOTTSDALE, AZ--(Marketwired - June 07, 2016) - New Business Funders (http://www.newbusinessfunders.com) has just released a brand new guide that outlines the pros and cons between new business startup loans and a business line of credit.

Each lending vehicle can serve a particular purpose, but that doesn't mean that one is not necessarily better for a specific situation. For example, the guide points out that on standard new business startup loans you will be paying interest from day one on the full amount, versus only paying the interest on the amounts you are currently borrowing from a line of credit.

Another key point made in the guide is that there's usually more red tape and a tougher application process for startup loans versus a line of credit. One reason is that a line of credit can be procured based upon your personal credit score, whereas a business loan is usually based on the credit score and transaction volume of the business.

"It's comforting to know that you have numerous options to choose from when attempting to fund your new business," explained Troy Bohlke, spokesperson for New Business Funders, a company that specializes in helping new businesses secure lines of credit. "In our newest guide, we help you better understand the pros and cons between startup loans and lines of credit, so you can make an informed decision for your startup capital."

Learn why it makes more sense to consider a business line of credit over a new business startup loan by reading the guide at: http://newbusinessfunders.com/avoiding-new-business-startup-loans-why-a-line-of-credit-makes-more-sense.

About New Business Funders

New Business Funders helps connect startups to the lines of credit they need in a simple and efficient manner. Using their broad network of banks that are eager to loan money to startups, NBF helps get new businesses the credit lines they need without the runaround. Just a 680 FICO score or better gets your business approved for a line of credit from $10k to $250k with low interest and easy repayment options. No tax returns, bank statements, automated payments, business statements or sales receipts required. It really should be this easy to fund your new business.

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