Quick Summary: A business line of credit is an approved amount your business can draw on, repay and draw on again. Through Lexington Capital's partner banks and credit unions, the general guidelines are a 680 credit score, 2 years in business, credit cards under 25% of their limits and a three-bureau credit report. Kevin helps you get ready and submits the application; Lexington Capital makes the decision.
Most business owners don't need a pile of money sitting in the bank. They need to know money is there when a supplier wants paying before a customer does, or when a good opportunity shows up on a Tuesday afternoon.
That's the job of a line of credit. This guide explains how one works, what Lexington Capital's partner banks generally look for, and how to tell if it fits your business.
How a Line of Credit Works
Think of it as a reserve with a ceiling. The bank approves a limit. You use part of it when you need it, and you pay interest only on the part you've used. When you pay it back, that room opens up again, so you don't have to apply for a new loan every time.
With the bank line of credit Lexington Capital arranges:
- The line revolves: draw, repay and use it again.
- Your monthly payment follows the balance you're carrying.
- No collateral is required.
- A co-signer can be added if that helps.
A line of credit works best for needs that come and go: inventory before a busy season, a payroll week that lands before your receivables, or a repair you didn't plan for.
What Lexington Capital Generally Looks For
These are Lexington's general guidelines. They can change, and every application is reviewed on its own.
- A credit score of 680 or higher.
- At least 2 years in business.
- Credit cards under 25% of their limits. If yours are higher, you may still pre-qualify, but you'll likely be asked to pay them down first so your credit report shows it.
- A three-bureau (tri-merge) credit report.
If the business is younger than 2 years, or your score isn't at 680 yet, don't stop there. Business credit cards, co-signer funding and a revenue-based line of credit have different requirements, and Kevin will tell you plainly which ones are worth a look.
Marisol runs a cleaning company in Union County with eleven employees. Her biggest clients pay in 45 days, but payroll is every two weeks. A line of credit lets her cover payroll in the gap and pay it back when the checks arrive, instead of moving money from her personal savings every month. (This is an illustration, not a real client.)
Kevin helps you get ready and submits the application. Lexington Capital makes the decision.
What the Process Looks Like
From the first bank application, the whole process usually takes 2 to 4 weeks. Along the way:
- Lexington reviews your three-bureau credit report for a pre-approval.
- If you're pre-approved, Lexington walks you through the whole program so you can decide if it makes sense.
- You get Lexington's agreement to review, including its fees, and a compliance call goes over every detail before anything moves forward.
- Lexington's bankers then apply for the lines of credit for you.
Note: Financing is provided by Lexington Capital, not by Kevin Gaviria or Gaviria Life Insurance Solutions. Kevin is a referral partner of Lexington Capital, not a lender, and may receive a referral fee. Lexington Capital reviews every application and makes all credit decisions. Not every applicant is approved.
Use It Like a Tool, Not a Paycheck
A line of credit is borrowed money, even when it's convenient. A few habits keep it working for you:
- Use it for things that bring money back into the business.
- Pay it down when the cash comes in, instead of carrying the balance forever.
- Keep an eye on your credit card use. Staying under 25% helps here and almost everywhere else.
If the line will carry the business's key person, it's also worth asking what happens to that balance if something happens to you. That's the protection side of Kevin's work, and it's always optional.
A Simple Next Step
Not sure a line of credit is the right fit? Take the 2-minute program check. It asks for rough ranges only, no documents, and shows which programs may fit. Or call or text Kevin at (848) 212-8787.
FAQs: Business Lines of Credit
Not for the bank line of credit Lexington Capital arranges. Approval depends mostly on your credit, time in business and how much of your credit card limits you're using.
You may still pre-qualify. Lexington will likely ask you to pay the cards down first, so your credit report shows the lower balances before the bank applications go in.
Yes. Co-signers are welcome on the bank line of credit, and there is a separate co-signer program if your own credit isn't there yet. A co-signer is equally responsible for the debt, so make sure they understand that.
Usually 2 to 4 weeks from the first bank application. Lexington Capital sets the timeline.
No. Kevin never asks for documents by text or regular email. When it's time, he sends you a private upload link.