Installment Loan VS Business Credit Lines

What is the difference?

Choosing which loan type is best for you and your business can be hard. Take a look below to get a better understanding of which loan type would work for you.

Installment Loan

Receive loans up to $50,000

Soft credit pull, will not hurt your credit score to apply

Compare dozens of offers from several different lenders*

Fixed interest rates and fixed payment amount

NO pre-payment penalties

Funding in as little as 24-48 hours*

APR as low as 4.9% with terms from 2-5 years*

Income verification required (employed or self-employed OK, 1099 OK, retired OK)

Minimum credit score requirement: 630+

Business Credit Lines

Leverage multiple credit lines in order to maximize working capital

NO pre-payment penalties

Funds can be used for any purpose the business owner deems necessary

Start-ups and new businesses are OK

NO upfront fees*

Receive your first round of funding in 21-30 days

0% interest for 9-12 months with APR as low as 1.75% (APR based on pre-approval amount)

Set up a new EIN sole proprietorship business

Build Dunn & Bradstreet / Paydex score

Business lines do not show on personal credit score

Minimum credit score requirement: 680+

 

*Benefits exclusive through True Heroes

APPLY NOW

Applying for pre-approval does NOT hurt your credit score. It is a SOFT credit pull and won’t show on your credit until after you accept an offer. 

Can you verify your income?

Approvals up to $50,000!

(Current paystub, W-2, Tax Returns, employed or self-employed, 1099, retired OK) 

Apply now

Want business credit lines?

Approvals up to $250,000!

(Program not income dependent, business owner, 1099, no W-2, no tax returns OK) 

Apply now