How hard is it to get an equity line of credit?

An equity line of credit can be difficult to obtain. But if you have significant equity and a good credit score, it should be an easy process. 

Can I apply for the Business Equity Line of Credit online?

Yes. Many lenders allow you to apply for a business equity line of credit online. 

Is there a difference between a HELOC and a line of credit?

A HELOC, or home equity line of credit, is a type of line of credit. It’s an option for homeowners who want to tap into the value of their home. 

Can I get a HELOC to start a business?

Yes. You can use the funds for a HELOC for any purpose, including starting a business. However, you risk losing the home if you cannot repay the HELOC. 

Is a business equity line of credit the same as a business credit card?

No. A business credit card is a form of unsecured debt without any collateral requirements. In contrast, a business equity line of credit requires the borrower to put up collateral. 

About the Author

Sarah Sharkey

Sarah Sharkey

Personal Finance Writer

Sarah Sharkey is a personal finance writer who enjoys helping people make better financial decisions.

More about me

Related Articles

Show More