Once you have been approved for a Credit Line, you will see your available limit in your Alta Dashboard
- Go to the Credit Line page
- Select the amount you wish to withdraw (up to your available limit)
- Scroll the term bar to select your choice (up to 12 months)
- You will see your repayment schedule in the table below
So for example, if you have been approved for a Credit Line of $50,000 USD, and you have an upcoming Supplier shipment that needs to be paid for:
- Today - withdraw $10,000
- This could be used for the initial down payment of your goods
- 30 days later - withdraw $25,000
- $20,000 for the remaining goods payment
- $5,000 for the inspection and shipping of those goods
So you will then have made two separate withdrawals, which act as separate loans, of which you can elect the term length AND potentially accept up to 90 days of interest only at the beginning of each withdrawal term.
If you do not use the complete limit you can come back and do as many withdrawals as required.
Interest Only Payments Option
You could also be eligible for a period of interest-only payments, depending on the term you select. Interest-Only Payment terms are only available for periods up to 90 days.
These periods are ideal for many Private Label inventory purchases, letting you defer the principal payments until you have had time to get your inventory produced, shipped, and selling! This process can take an average of 90 days, which is the length of time available for the interest only payments.