If your business needs a revolving credit line, consider these 4 lenders

A business line of credit can be a convenient financial tool for your small business as it provides access to a revolving credit line whenever you need it. Whether you run into unexpected expenses, want to improve your cash flow or grow your business, having access to a line of credit can be a solution.

CNBC Select analyzed more than a dozen lenders and compared terms, fees, credit limits, qualification requirements and other factors to determine the best business lines of credit. (Read more about our methodology below.)

Who's this for? Bluevine can be a good choice for more established businesses seeking flexibility when it comes to accessing credit.

Approved borrowers can get credit lines of up to $250,000, easily request funds through an online dashboard and pay back each draw over six or 12 months. The payments are fixed and the credit line holder can choose a monthly or weekly payment schedule. There are no opening, maintenance or prepayment fees.

Qualification requirements, however, can be somewhat steep. While you'll only need a FICO score of 625, your business needs to be at least two years old and have at least $40,000 in monthly revenue.

Who's this for? Wells Fargo offers a couple of excellent options for those who prefer to receive financing from a brick-and-mortar bank. Namely, the unsecured Wells Fargo BusinessLine^® line of credit has plenty to offer to business owners.

Depending on your credit, you can get a revolving credit line of $10,000 to $150,000. The interest rate is highly competitive, set at the prime rate plus 1.75%. The bank will also automatically enroll you in a free rewards program that offers 1X points on all qualifying purchases with the Mastercard access card. The line of credit has an annual fee ($95 if the line amount is $10,000 to $25,000 or $175 if the line amount is more than $25,000) but it's waived the first year.

To qualify, you need to have been in business for at least two years. Additionally, BusinessLine accounts require personal guarantees from any owner with 25% or more ownership, with at least 51% in combined ownership. Wells Fargo doesn't disclose minimum credit score or annual revenue requirements but says that guarantors typically have a FICO score of at least 680.

For businesses that haven't been on the market for quite as long, the Wells Fargo Small Business Advantage® line of credit can be a solid alternative with a limit of $5,000 to $50,000 and no annual fee. Interest rates start at the prime rate plus 4.50%.

Who's this for? Secured lines of credit can be a good choice for smaller businesses. The American Express® Business Line of Credit comes with a credit limit of up to $250,000 and uses your business assets to secure the funds.

For approval, you need a FICO score of at least 660 and a business checking account. All loans require a personal guarantee, meaning you agree to repay from your personal finances should you default on your business credit. Additionally, you need to have started your business at least a year ago and have an average monthly revenue of $3,000 or more. This is a relatively low requirement, meaning a business line of credit from Amex can be an option for an established side hustle you want to continue to grow.

Monthly costs range, depending on the loan term which can be six, 12 or 18 months. There are no prepayment penalty fees.

Who's this for? The Fundbox Line of Credit is ideal for startups because, unlike many other lenders, it doesn't require at least one or two years in operation for approval. Approvals could take as little as three minutes and funds can be available as soon as the next business day.

Depending on your credit profile, you can get a credit line of up to $150,000 with Fundbox. Your personal credit score must be 600 or more, and your business only needs to be at least six months old. It must bring $100,000 or more in annual revenue (about $8,333 monthly) and you'll need a business checking account to qualify.

When you draw funds, you'll pay fixed weekly fees. Fundbox doesn't specify its terms and rates but offers examples of a 12-week term at 4.66% and a 24-week term at 8.99%. Based on your creditworthiness, however, your rates and terms may be higher.

Otherwise, the line of credit is light on fees. There are no maintenance fees and no charge for repaying early. However, if you pay late, you'll pay the average of the original fees of the repayment plan — plus a $6 NSF fee if you missed a payment due to insufficient funds in your linked account.

When it comes to choosing a lender to get a business line of credit, qualification requirements and repayment terms can vary greatly. To find the option that works best for you, consider your company's needs and overall financial situation and compare multiple lenders. And finally, don't disregard our financing tools, such as small business loans — they may also offer the support your business needs.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every business line of credit review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of small business products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best lines of credit for small businesses.

To determine which business lines of credit offer the best financing terms, CNBC Select analyzed a dozen of online and brick-and-mortar lenders and their products.

We compared each business line of credit on a range of features, including:

• Minimum and maximum loan amounts
• Length of term
• Credit score needed
• Application requirements
• Streamlined application process
• Fund disbursement

After reviewing the above features, we organized our recommendations by best for flexible financing, financing from a big bank, secured financing and financing for startups.

The rates and fee structures for lines of credit are subject to change without notice, and they often fluctuate in accordance with the prime rate. Further, your fees and credit line will depend on your credit history and creditworthiness.

To provide a business line of credit, lenders will conduct a hard credit inquiry and request a full application, which could require both personal and business proof of income, identity verification, proof of address and more. You'll likely also need to provide a personal guarantee and demonstrate your business has been in operation for a long enough time.

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