With small and large businesses in hard times the past few years, getting a line of credit for your business without a personal guarantee might have appeared to be impossible. There are still real ways of getting a line of credit and being able to do so without a personal guarantee on your part.
Using Merchant Cash Advances.
If your business has a regular cash flow from credit card transactions you can approach your merchant company to see if you qualify for a merchant cash advance. Many merchants will approve cash advances up to three times your monthly credit card volume.
This is a nice option because there will not be a liens, collateral, or personal guarantee.
Using a Secured Business Credit Card.
A secured business credit card is designed for a business with no credit or with a bumpy credit history.
During the application process you provide a security deposit and this in turn will start establishing your company’s line of credit.