Miami Beach Unsecured Business Lines of Credit

Owning a Business
in Miami Beach

What you’ve heard about Miami Beach is true, but to really appreciate it, you need to experience it for yourself. Visit Miami Beach and take an Art Deco tour to learn more about the city’s distinctive architecture. More than 800 buildings from the 1930s and 1940s in Miami Beach’s South Beach Art Deco District have been designated as historic landmarks, making it a must-see destination.

Enjoy some of Miami Beach’s best restaurants, nightlife, and spas while staying in a boutique or retro hotel. Ocean Terrace in North Beach is quickly becoming a miniature version of South Beach, complete with enticing hotels and restaurants along the water’s edge. Do not forget to take a walk along the shore.

So, the Miami Beach business facet is treating you extremely well as a small business owner. But you want to renovate your coffee shop into a coffee shop and book lounge. You’ll need to buy the lounge furniture and make sure that the coffee shop stays running during renovations. So, what you plan to do is buy out the small pet spa next door and expand the square-footage of your operation. You know you don’t have enough cash flow to make this expansion happen fast enough, but at the same time you don’t want to work with a loan and be constrained by term payments etc. How do you finance the expansion in the most cautious manner possible? The best option for you would be an unsecured business line of credit. Wondering why? We’ll answer that for you below:

Unsecured Business Lines of Credit for Miami Beach Businesses

How Does An Unsecured Business Line Of Credit Work?

The purpose of an unsecured business line of credit is similar to that of a business credit card. In contrast to a term loan, which offers a set amount of money all at once, a line of credit allows a business to access funds as they are required. With a business line of credit, interest is paid only on the funds that are actually drawn. When it comes to short-term costs, company owners may borrow as much as they need from an unsecured business line of credit. The capital is adaptable and may be used for everything an enterprise requires, from paying employees and covering costs of supplies to investing on the future of the company.

Why Would An Unsecured Business Line Of Credit Work Well For You?

In the example above, the buy-out of the pet spa next door and expanding your operations doesn’t need to happen all at once with a business line of credit. Unlike a loan, you can spend on a need-to-spend basis. So, let’s say you’re given a line of credit of $250,000. Then you can first buy the space and pay for the next 4-or-so months because the coffee shop is in full operation. Thereafter after much deliberation about furniture and décor, you can spend a little bit more, knowing that you’ll then pay that. Once you pay for everything, the line of credit is not closed, but rather it is ‘refreshed’ and you can use the full $250,000 again because while you’ve been making payments, you’ve been paying the principal and interest.


When applying for an unsecured business line of credit, your lender will check a number of things including:

  • How long you’ve been in business
  • Your personal credit score
  • The business’ bank account
  • The annual revenue of the company

The business’ financial history

Lines of credit are available from both internet lenders and conventional banks, with maximum loan amounts ranging from $2,000 to $250,000.


Solicite ahora