Smart Business Capital.
Built for Owners Who Want Better Options
BELoC
Business Equity Line of Credit
• Unlock Larger Amounts:
$15,000 – $750,000
• Faster Funding Options:
Soft Credit Approval In Minutes
• Flexibility:
Draw, Repay and Redraw Options
Business Capital
Business Lending Programs
• Equipment Lending
• Lines of Credit
• Working Capital
• SBA Loans
• Term Loans
• Project Funding
Access up to
$750k in 5 Days.
How Does a BELoC for Business Work?
A BELoC lets you unlock your equity to access flexible funding for your business.
With Purple Apple Loans, the steps are fast, digital, and designed with entrepreneurs in mind.
Who qualifies?
Business owners who own a primary residence with available equity may qualify. This includes entrepreneurs, self-employed individuals, and small business owners looking for flexible capital without relying solely on their business financials.
What Purple Apple looks for at a high level
We focus on your home’s equity, your personal credit profile, and overall financial picture. Approval is not tied to business revenue, time in business, or traditional cash flow requirements like most business loans.
Small business-friendly qualification
Unlike banks or SBA loans, this option is designed for real operators. No long applications, no years of tax returns required, and no restrictions on how you use the funds. Faster decisions, fewer hurdles, and capital you control.
Common Uses of Business Equity Line of Credit Funds
Startup and Expansion Costs
Equipment and Inventory
Working Capital
Emergencies and Repair
How Does Business Capital Work?
1 Prequalify online:
See your options in minutes with no impact to your credit score.
2 Verify property and income:
Upload documents digitally; no in-person appraisal needed for loans under $400k.
3 Get funded quickly:
Eligible borrowers can get funding in as few as 5 days.
4 Draw and redraw:
Use funds for business or personal needs; for fixed rate option,
each new draw locks a new rate at the time of draw.
Who qualifies?
Business owners who own a primary residence with available equity may qualify. This includes entrepreneurs, self-employed individuals, and small business owners looking for flexible capital without relying solely on their business financials.
What Does Purple Apple look for at a High Level?
We focus on your home’s equity, your personal credit profile, and overall financial picture. Approval is not tied to business revenue, time in business, or traditional cash flow requirements like most business loans.
Is Purple Apple Small Business-Friendly?
Unlike banks or SBA loans, this option is designed for real operators. No long applications, no years of tax returns required, and no restrictions on how you use the funds. Faster decisions, fewer hurdles, and capital you control.
BELoC vs other business financing options
When you need capital to run or grow your business, the choices can feel overwhelming. Explore your options and see why our straightforward online application, quick funding, and competitive rates make us the smart choice for your financial needs.
| Feature | BELoC | SBA loan | Business credit card | Business line of credit |
|---|---|---|---|---|
| Application process | 100% online, see your rate instantly | Extensive documentation | Online; instant decision possible with some issuers | Varies by lender |
| Prepayment penalties | Never | Yes on 7(a) terms ≥ 15 yrs if > 25% prepaid in first 3 yrs (SRF) | None | Interest typically deductible |
| Tax deductibility | Generally not deductible unless funds buy/build/improve the home securing the loan | Interest typically deductible | Interest typically deductible | Often 1-7 business days with online lenders |
| Funding speed | In as few as 5 days on of $400k or less | Typically 30-90 days, SBA Express faster | Instant to a few days (virtual card numbers common) | Widely varies by lender from single digits to 30%+ |
| Average APR | Competitive, fixed and variable rates | Prime + spread; 10.5-15.5% depending on term/amount | Often 1-7 business days with online lenders | Average APR |
BELoC
SBA Loan
Business Credit Card
Business Line of Credit
FAQs about BELoC
How long does it take to get a BELoC?
Most applicants can see options in just a few minutes. Funding timelines vary, but many customers are able to access funds significantly faster than traditional business loans.
How much can I borrow?
Your credit limit is based primarily on your available home equity, credit profile, and overall financial picture. Qualified borrowers may access substantial lines of credit, often much higher than unsecured business options.
How often can the interest rate change?
BELoCs typically have variable interest rates that may adjust periodically based on market conditions. The exact timing and structure are outlined clearly before you accept an offer.
What are the draw and repayment periods?
During the draw period, you can access funds as needed and only pay interest on what you use. After the draw period ends, the loan enters repayment, where principal and interest are paid over time.
Is interest from a business BELOC tax-deductible?
Interest may be tax-deductible when funds are used for qualified business purposes. Tax treatment varies, so it’s best to consult a tax professional regarding your specific situation.
How does a BELOC affect your credit score?
Applying may result in a credit inquiry. Ongoing impact depends on how responsibly the line is used and repaid. On-time payments can help maintain or improve your credit profile.
Can I use a BELOC to finance a new business or startup?
Yes. Because approval is based on home equity rather than business revenue, many entrepreneurs use a BELoC to start or grow a business that wouldn’t qualify for traditional financing.
Ready to upgrade your business?
Join thousands of owners who chose a smarter way to fund their dreams.