Business Line of Credit

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$10,000 - 10,000,000

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$16B+
working capital delivered

“Over 750,000 businesses nationwide have trusted us to help them secure the funding and banking solutions they need. Join them today.”

Need funds fast? Get easy access to a business line of credit
Access the capital you need to run and grow your business—featuring competitive
rates and effortless automatic repayments.

Instant access to funds

Get instant access to approved draws with a NexGen Lending Business Checking account.

Credit lines up to $250K

Apply for credit lines up to $250,000, with rates as low as 7.8% for top qualifying customers and no maintenance fees.

Access to ongoing capital

Draw funds when you need to cover big expenses, improve cash flow, and take advantage of growth opportunities1 — and only pay for what you use.

Use your line to build business credit.

NexGen Lending’s Line of Credit is designed to support your business growth. With every on-time repayment, we report your payment history to Experian, helping you build a stronger business credit score and unlock future financing opportunities.

Start building your business credit today

1 Apply online in minutes

Provide basic info about your business and get a decision in as fast as five minutes. Plus, applying won’t impact your credit score.

2 Access funds in a click

Request funds in a click, and see approved draws in your account in as fast as 24 hours—or instantly with a NexGen Lending Checking account.

3 Make automatic repayments

Repay automatically on a fixed schedule, and your credit line will replenish as you make repayments.

Business checking that works with your line of credit.

Enjoy even more exclusive benefits by pairing your NexGen Lening Line of Credit with a NexGen Lending Business Checking account.

Discounted rates on your line
Instant access to approved draws
High-yield interest on your checking balances
FDIC insurance up to $3M

Why Choose NexGen Lending for a Business Line of Credit?

A business line of credit gives you access to funding when you want it, up to your credit limit. Unlike traditional one-time loans, a NexGen Lending Line of Credit is “revolving credit,” meaning your available credit replenishes as you make repayments, so you can draw additional funds without having to fully re-apply. Though, all draws are subject to review and approval.

Once approved for a credit line, you can request funds directly from your NexGen Lending dashboard. We’ll deposit funds in your account as soon as a few hours, pending review and approval. Depending on which repayment plan you qualified for, we’ll automatically debit your account for weekly or monthly repayments. As you pay off your balance, the amount of available credit you can request automatically replenishes. Because your repayments are calculated with simple interest, you can save on interest when you pay early. We don’t charge early repayment fees.

You can apply for a NexGen Lending Line of Credit on our website. We’ll ask you for some basic information about you and your business. Once your application is submitted, you could get a decision in as little as five minutes.

Just make sure you meet these minimum qualifications:

  • $10,000 in monthly revenue
  • 625+ personal FICO credit score
  • In business for 12+ months
  • Corporation or LLC
  • No bankruptcies on file
  • In good standing with your Secretary of State
  • Business is operating or incorporated in an eligible U.S. state
  • Ineligible states include: Nevada, North Dakota, South Dakota
  • An active bank connection or statements from the last 3 months (a connected account makes it faster and easier to confirm your information).

It’s even easier to apply for a line of credit if you already have a NexGen Lending Business Checking account.

You can apply for a NexGen Lending Line of Credit as long as your business meets the minimum qualifications and does not operate in one of the following ineligible industries or states:

Ineligible industries

  • Illegal gambling
  • Pornography and paraphernalia
  • Political campaigns
  • Firearms and paraphernalia
  • Other controlled substances (including medicinal marijuana, marijuana, cannabis, and hemp) and paraphernalia
  • Financial institutions and lenders (including insurance, penny auction companies, and cryptocurrency)
  • Auto dealerships

Ineligible states

  • Nevada
  • North Dakota
  • South Dakota
  • U.S. territories

Yes! If approved, your NexGen Lending Line of Credit comes with a complimentary NexGen Lending Business Checking account, which you’ll be able to set up during onboarding. This allows you to conveniently manage your business checking account and line of credit from one easy-to-use dashboard. Plus, you can instantly access approved draws from your line of credit in your business checking account.

While applying and reviewing an offer will not impact your personal credit score, accepting an offer may result in a hard inquiry. Further, if you default on a NexGen Lending Line of Credit you may be subject to negative business reporting and personal credit reporting in your role as guarantor.

With funds in as fast as 24 hours, simple interest rates, and no prepayment penalties, a NexGen Lending Line of Credit lets you take advantage of growth opportunities early.

You could use a line of credit to cover payroll, hire full-time or seasonal employees as you need them, stock up on extra inventory during a sales rush, or buy materials or equipment for your next big project. You could also renovate your office, warehouse, or storefront, or lease a larger one. Learn how to make the most out of your line of credit.

Complete our easy 20-second application, get matched with options in minutes, and receive funding in just hours!

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