When it comes to applying for a small business line of credit, what’s the best way to apply? Most people start with the bank that they hold a business checking account with. The concept is that your business has some history with this bank and you may have a relationship with someone at the bank.

From our feedback with business owners, their bank usually doesn’t approve their business for a line of credit. This is because banks much rather sell your business a credit card, because they can charge anywhere from 11% to 30% in interest rates. 

The best way to apply for a business line of credit is to maximize your potential for approval. This is why we created Line of Credit Depot. We work with hundreds of ‘small business friendly’ bankers, so you can be assured that at least one of our banking partners will approve your business. Different banks have different qualifications for approval, and oftentimes a banker won’t tell you the requirements upfront.