Belcorp Financial offers a business line of credit. It creates the opportunity to have business capital on hand that you can access at any time up to an agreed upon credit limit.
Once the credit limit is established, the amount available to borrow within that limit is determined daily using a specified percentage of eligible receivables. Eligible receivables are good, collectible receivables that are less than 90 days outstanding.
Invoices are paid directly to a post office box operated by Belcorp. The payments will be applied to your outstanding receivables the same day and credited against your loan. Interest is calculated daily based on the loan balance and due monthly.
The Revolving Note that Belcorp Financial offers is similar to the Line of Credit in the aspect of the timing of the debt. Only funds borrowed at any given time are subject to finance charges. This differs from the Term Note in which all funds are disbursed at closing.