Business
Line of Credit

Borrow as you need and pay only for what you use. Access a Line of Credit of up to $250K.

Only available to North One Account holders. Applying won't impact your credit score.

Apply for an account

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North One is a financial technology company, not a lender. North One does not issue loans or make credit decisions in connection with loans. North One Lending is powered by Kanmon. All loans are subject to credit approval. Your terms may vary. North One Lending loans are issued by Kanmon, a licensed lender. California Loans are made pursuant to a Department of Financial Protection and Innovation California Lenders Law License. Read more about Kanmon here.

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Benefits of a North One Business Line of Credit

Capital that scales
with your business

Lines of credit from $10K to $250K.

Quick application
and decision process

Apply in as little as 2 minutes.
Decisions in as soon as 24 hours.

Fast access
to funds

Same day funding.1

How North One’s Business
Line of Credit works

Sign up for North One

Apply for free online or on the North One mobile app.

Apply for a North One Line of Credit

Get a decision in as fast as 24 hours. Applying doesn’t affect your credit score.

Draw funds whenever you want

Same day funding.1

Repay
as you go

Pay back only on what you borrow in monthly increments.

Access
more funds

As you pay off the credit you borrowed, the same amount is made available for you to borrow again.

Get a Business
Line of Credit today

Only available to North One Account holders.
Applying won’t impact your credit score.
Apply for an account

North One is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A., Member FDIC.

North One Business Line of Credit requirements2

North One Bank Account
Your business has a North One Bank Account and is in good standing.

620+ FICO Score
The applicant has a FICO score of 620.

12+ Months
You’ve been in business for over 12 months.

$2,000+ Cash Balance
Your business has a cash balance above $2,000.

North One Business Line of Credit FAQ

I need a North One account. What are the requirements for a North One Account?

To apply for a North One Account you’ll need information on both the owners of the company and of the company itself. 



For the business, you'll need to have an address for the business itself. If your business is a Corporation or a Partnership you'll need your Employer Identification Number. 



For each business owner who owns 25% or more of the business you'll need a Home Address, Contact information, as well as a Social Security Number (SSN). 



More details can be found here.

Will my credit score be impacted if I apply for a Line of Credit?

No. Applying for a North One Business Line of Credit will not impact your credit score.

How long does it take to get approved for North One Funding?

It can take as little as 24 hours to be approved for a North One Business Line of Credit.

Do I have to draw the funds by a certain date?

No. There is no deadline for drawing your funds.

How do I repay the loans?

Repayment days are set based on draw date, and the repayment frequency is monthly.

Understanding Business Lines of Credit

What is a business line of credit?

A business line of credit is a flexible form of financing that allows a business to borrow funds up to a predetermined limit. The business can draw on the line of credit as needed and only pays interest on the amount borrowed.

How does a business line of credit work?

A business line of credit works by providing a pool of funds that businesses can access at any time, subject to certain limitations. Money drawn from such a line of credit must be repaid back together with interest on regular payments.

What credit score do you need for a line of credit?

The credit score required for a business line of credit can vary depending on the lender and the specific terms of the credit line. Generally, lenders look for a credit score of at least 600 to qualify for a business line of credit, but some lenders may require higher scores for more favorable terms.

How soon do you have to pay back a business line of credit?

Business lines of credit must be paid back with interest according to varying terms by different lenders and specific conditions of the line. There are flexible payment arrangements for companies to pay off their line of credit over time.

How much can a business get for a line of credit?

The amount that a business can get through a line of credit is determined by various factors such as the borrower’s credibility and the purpose for the loan. In general, with an open line of credit, businesses can borrow as little as a few thousand dollars or well over several hundred thousand dollars.

What are the types of business lines of credit?

There are several types of business lines of credit, including secured lines of credit, unsecured lines of credit, and revolving lines of credit. Secured lines of credit require collateral, while unsecured lines of credit do not. Revolving lines of credit allow businesses to borrow, repay, and borrow again up to the credit limit.

What’s the difference between a business line of credit and a business credit card?

The primary difference between a business line of credit and credit card is the way in which funds are accessed. A line of credit for business gives access to a pool of funds that can be borrowed against as needed, while a revolving line of credit can be used with a business credit card.

Is it hard to get a business line of credit?

Getting a business line of credit is not easy because usually lenders require a strong personal or company’s credit history, well developed financial plan, and the ability to pay back the amount. Nevertheless, companies with strong financials and a positive reputation in the market may more easily get qualified for this financing scheme.

Can I get a business line of credit to start a business?

Yes, it is possible to obtain a business line of credit in order to start your new company but receiving such loans might be harder than if you are already established as a business. Such businesses often need a very good personal history from the owner, detailed plans for what he or she intends to do, and some security for the loan.

How long do you need to be in business to get a line of credit?

How long you must have been in operation for you to qualify for a line of credit depends on the lender and terms of use that form part of the agreement. There are creditors who insist that they need at least half a year or even one full year to have elapsed since these businesses started operations before they can give them any loans while others ask applicants to provide them with their operating history until meeting certain requirements.

Get a Business
Line of Credit today

Only available to North One Account holders.
Applying won’t impact your credit score.
Apply for an account

North One is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A., Member FDIC.

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1 In some cases, same day funding may not be available.

2 Additional requirements may apply.
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