Building on last week's blog where we introduced you to the multiple payment methods we offer, this week we’ll take a closer look at the two types of corporate credit lines we have available (both underwritten by Synchrony Bank).
- Pay-in-Full: Minimum of 55 days to pay invoices with no interest
- Revolving: Monthly payments with 12.99% interest on outstanding balances
Corporate credit lines are ideal for many types of businesses from libraries, schools, and government institutions who want to pay-in-full each month, to small and medium size businesses that want the option to make minimum monthly payments.
Still unsure about a corporate credit line? Here’s an overview of the many benefits they can have for your organization:
- No annual fee
- Pay by purchase order
- More easily reconcile spend with monthly itemized statement-level invoices
- Maintain control over your cash flow. Customize which groups have access to your credit line, and divide your total credit line into sublines for individual groups
- There's an added bonus: if you use Pay-in-Full, you get a dedicated account manager at Synchrony Bank that will help you set up and manage your credit line in a personalized way
The benefits that come with a corporate line of credit might check all your boxes. If you’re still interested in understanding our other payment methods, visit us next week when we’ll cover more details about paying by invoice.
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