Quickbooks Line of Credit

The funds will be deposited into the bank account listed in your application, Excel2933.

The full amount will be deposited into the business bank account you provide in your application after you’ve been approved for and accepted the offer. The funds should appear in your account within 1–2 business days after acceptance.

QuickBooks Line of Credit allows you to draw cash and fund multiple eligible invoices that meet specific criteria.

Cash Draw Qualifications:

• You have enough available credit remaining.
• The cash draw amount is $258 or more.

Invoice Qualifications:

• The invoice was sent through QuickBooks.
• You have enough available credit remaining.
• The invoice total is $258 or more.
• The invoice is not more than 30 days past due.

Each draw is treated and documented as a separate loan with its unique terms. For more information on managing QuickBooks Line of Credit, refer to this article: Manage expenses and increase cash flow with QuickBooks Line of Credit.

Additionally, here are some resources to guide you in recording and paying your loan in QuickBooks:

• Record a line of credit loan
• Manage a line of credit

Let me know if you need further assistance with managing your QuickBooks Line of Credit. We're here to support you.

my line of credit is suspended with no explanation

Welcome to the Community, @skills construction.

Your line of credit may have been suspended for reasons related to risk management, account delinquency, or changes in business eligibility. Common causes of suspension include:

• A payment is delinquent or two payments are returned.
• The financial health of your business or your personal credit changes.
• There are significant changes to your credit profile, including your FICO score, delinquent trades, credit inquiries, or bankruptcy filings.
• QuickBooks detects high risk. If your QuickBooks account is not connected to an active bank account, or if QuickBooks finds other irregularities with your identity or your business.

To protect your line of credit, maintain a good credit profile. Make sure your payments are timely and not returned. Confirm that your QuickBooks Online subscription is current, and linked to an active bank account. Please be aware that factors like delinquent trades, declining FICO scores, excessive credit inquiries, and suspected fraud can cause your line of credit to be suspended or revoked.

Should you have any other concerns, feel free to leave a message in this thread.

Good day, @skills construction.
 
I just wanted to follow up to check if the resolution we provided helped resolve your concern.
 
Please let us know if everything is now working as expected or if you’re still experiencing any problems.
 
We’ll be glad to assist further if needed.