Unsecured business lines of credit are similar to a cash advance from a credit card. Instead of a credit card company, though, you are getting the line of credit extended from a lender. The lender will give you an amount of credit, and you can use it when you need it. You maintain a balance owed plus interest on that balance and make payments as agreed upon. An important thing to note here is that since it is unsecured, it means you don’t have to put up any collateral to get it. (more…)