Businesses that have fluctuating capital needs often use a line of credit, which allows them to borrow only what they need, repay all or part of the loan, and repeat as necessary without having to apply for a new loan every time additional funds are needed. The Power Line of Credit offered by the nonprofit lender DreamSpring gives eligible businesses this type of flexible financing.

With DreamSpring’s Power Line of Credit, businesses have access to a fixed-interest rate revolving credit line of up to $50,000 that replenishes as the business makes repayments. The line of credit can be used for short-term needs, allowing the business to pay for only what is drawn. Funds can be used to cover payroll, bridge cash flow gaps, purchase inventory, and take advantage of new opportunities as they arise.

DreamSpring is a nonprofit Community Development Financial Institution (CDFI) and U.S. Small Business Administration (SBA) lender dedicated to accelerating the economic inclusion and strength of underserved communities. Founded in 1994, the award-winning organization provides rapid access to capital and customized wrap-around support to the most vulnerable small business owners in 27 states, including New Mexico where it is based. DreamSpring focuses on communities including people of color, women, low- to moderate-income households, people with disabilities, and start-ups.

Learn more about DreamSpring and read how the Power Line of Credit helped an Albuquerque business grow.