Do you need a small business line of credit to finance your business expenses, inventory purchases, contractor pay, or other costs of doing business?
At Jefferson Bank & Trust, we can help. We’re big on small business: yours! We provide superior commercial banking services through a commitment to personalized service. When you borrow a small business line of credit from us, you’ll be working with the same expert loan officer for years or longer.
We provide business lines of credit at competitive rate and terms. If you are a growing business, setting up a business line of credit now before it is required can make sure that you are ready when opportunities arise.
Contact us today to learn more and find out why we’re one of the best banks in St. Louis for commercial banking services.
Why Take Out a Small Business Line of Credit?
A small business line of credit is an important tool for growing businesses to manage their expenses – especially expenses that may be unpredictable or variable.
Here’s what many of our successful customers use a small business line of credit to finance:
- Inventory purchases: When your business needs new inventory – and has an established financial history – a small business line of credit can be invaluable to finance new inventory purchases.
- Paying subcontractors: When a project is lined up and all of the details are locked down under contract, a small business line of credit can be highly effective at giving you the working capital you need to bring the project to a successful conclusion.
- Covering unforeseen expenses: Equipment breakdown, no-show employees, unforeseen weather conditions, and sudden shifts in the market can make a small business line of credit the critical lifeline that your business needs to keep going without a hitch.
- Paying off higher interest loans: Access to a small business line of credit can give you more financial flexibility to pay off higher interest loans to reduce your overall interest payments.
- Securing more competitive contracts on products and services by paying up-front or buying in bulk: Many vendors offer substantial discounts for business that pay up-front or in bulk. Take advantage of more savings by using a small business line of credit for negotiating leverage.
- Reducing reliance on higher-interest loans: By building up a predictable business credit history through use of a small business line of credit, you can cut down on your reliance on other forms of short-term financing that may have higher interest rates.
- Reducing fees and management overhead related to constantly taking out new business loans: A revolving credit account like a small business line of credit only needs to be applied for and established once, reducing your need to re-apply for specific loans.
How to Qualify for a Small Business Line of Credit
At Jefferson Bank, we’re committed to fiscal prudence and continuing to grow the prosperity of St. Louis. When we extend a small business line of credit, it’s usually to businesses that can show:
- An established and documented financial history, assets, and good credit
- A plan for what the company will use the small business line of credit to finance
We provide responses to small business line of credit applications quickly since all decisions are made locally. Just call our office at 314-621-0100 or use our convenient online contact form to start your application today. For more information on our commitment to small business success and how this makes us different from other banks in St. Louis, contact us today.