Line of Credit / BitX Funding
Are you a small business owner looking for a business line of credit to grow your business? Take on new opportunities? Do you have customers that slow pay you? And your accounts receivables paid 30/60/90 days? If you have significant AR Aging and would like to tap it in return for a LOC, BitX has the answer. BitX Funding LOC is a revolving business line of credit secured by accounts receivable. Matching your loan repayment with your customers’ payment terms. It has a bank-like feel, and you can use it for your working capital needs.
This is the right fit for clients looking to maximize the amount of liquidity. They need working capital and/or do not want their lender to contact their customers. (“non-notification”).
- Loan Sizes: $250,000 to $10 Million
- APRs: Starting at 9.99%
- Term: 12 to 24 months with the option to renew
What type of clients fit?
2+ years in business
$1 Million – $75 Million revenue
Top industries include wholesale, manufacturing, advertising, transportation, staffing, and services.
Businesses in transition, growing rapidly, highly seasonal, or looking for acquisitions.
Features and Benefits:
- As you invoice eligible customers, immediately receive up to 85% of the AR as available funds
- Request and receive your available funds the same day
- Your loan balance is automatically reduced when your customers pay
- You continue to control your customer relationships
- Instantly increase your credit line as your business grows
- You do not have to be profitable or worry about highly restrictive financial covenants
- Get reporting and analytics in detail to manage your working capital
BitX Funding is the online marketplace for small business owners looking to fund a project. We specialize in connecting small business owners with lenders. Who will compete for your business? We believe small business owners drive the economy. We are passionate about helping your company reach its full potential.