The Credit Line is a funding option for a line of credit with limits of up to $1,000,000 based upon business size, performance, and other factors.
You have the flexibility to withdraw funds as needed as long as the amount is at least $5,000 per each withdrawal. Each withdrawal is then considered a separate term loan with its own duration that you choose (between 3 to 12 months). Each withdrawal accrues its own interest.
For example: you could be approved for a Credit Line with a $50,000 limit based upon your business performance. You are then able to withdraw individual term loans as needed under that limit. The withdrawals must be in at least $5,000 increments. Each term loan has its own repayment period between 3-12 months that you select.