A home equity line of credit lets you borrow against the equity in your residence and draw funds as your business needs them. It's underwritten differently than our other programs — but it's often one of the lowest-cost ways to access capital if you have equity available.
A HELOC is underwritten against you personally — your credit, your income, and the equity in your home — not your business financials. That's different from our other programs, but it can be one of the lowest-cost ways to access capital if you have equity available.
| Structure | Revolving line of credit secured by equity in your primary residence |
| Draw period | Set at approval; many lenders offer interest-only payments during this period |
| Rate | Usually variable, tied to the Prime rate plus a margin set by the lender |
| Use of funds | Business working capital, equipment, expansion, or debt consolidation |
| Underwriting basis | Your personal credit, income, and available home equity |