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Unsecured

Banks

Credit Cards

Eligibility

Annual Revenue:

  • Minimum annual level of income similar to a midrange consumer credit card ~$35k

Time in Business:

  • Varies depending on type of card offering. More focused on credit scores

Other:

  • Usually requires personal credit history for small business

Typical Range

Average limit of $50k

Features

Payment Schedule:

  • Monthly billing cycle interest-free; 2-5% Minimum Payment

Timeliness to Fund:

  • Immediate use once approved

Origination & Interaction Model:

  • Apply over the phone or with a business specialist in branch. Apply online if already a bank client and tying to your personal credit score

Other Features:

  • A variety of traditional credit card awards – Can be tied to the business or the person applying (i.e. personal credit score, but shifting to business credit score)