Credit Facilities

Credit Facilities are increasingly becoming popular among businesses as they provide much-needed flexibility in terms of finances. With Zil Money, businesses can now avail of credit facilities and repay the amount over a period of time with interest. This type of loan allows businesses to borrow money as and when they require it without having to request a loan every time they need cash. Zil Money now allows businesses to make purchases without worrying about the lack of funds and repay the amount at their convenience. 

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Zil Money is a fintech, not a bank. FDIC coverage is provided through our partner banks Texas National Bank and Lincoln Savings Bank.

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Integration with Banks and Accounting Software

Zil Money is connected to over 22,000 banks and financial institutions in the United States and Canada. As a result, you may use the platform to connect various bank accounts and generate checks with ease. Moreover, the platform is QuickBooks-integrated, allowing businesses to input checks from the accounting software. Using the software, you can print them or send them as eChecks or via mail. 

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All-In-One Payments Platform for All Your Business Needs

In addition to providing credit facilities, ZIl Money offers many features that are beneficial for small businesses. You can design and print checks with Zil Money’s cloud-based check writing software. The platform also allows you to send and receive payments from multiple bank accounts.

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Understanding Credit Facilities

Credit facilities are fundamental tools in the modern financial landscape, providing essential liquidity and financing options for individuals and businesses. Essentially, they represent an agreement between a bank or other financial institution and a borrower to grant a certain amount of loans on demand. This might include overdraft services, revolving credit (like credit cards), term loans, letters of credit, or other financial guarantees.

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Why Zil Money!

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The Impact of Credit Facilities

Credit facilities play a crucial role in ensuring the smooth operation of financial activities and are a critical factor in economic growth and stability. By allowing flexible access to funds, they can help businesses to manage their cash flow more effectively, respond to unexpected expenses, or take advantage of new investment opportunities.

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Frequently asked questions

FAQ Section
What are credit facilities?
Credit facilities are a type of loan that enables the borrowing company to borrow money over a lengthy period of time as opposed to requesting for a loan every time it requires cash. With Zil Money, businesses can now pay for the purchases if they do not have the funds and they can repay the amount with interest later.
What is the difference between a loan and a credit facility?
For a particular need, like a home or car, a loan is acceptable. It enables budgeting and pays off the loan in a defined amount of time. On the other hand, credit facilities are perfect for everyday use because they provide flexibility and backup credit if needed. Businesses can now use credit facilities through Zil Money and repay the money over time with interest.
Why is credit facility important?
Instead of continually seeking for loans, credit facilities allow borrowers to collect funds over time. With Zil Money, businesses may make purchases without worrying about having enough money and pay the money back with interest.
Credit Facility vs Loan
While a loan offers all the desired funds in one cash payment at the time it is provided, in the case of a credit facility, the bank gives the customer an amount of money that can be used as needed, whether it be with the full amount borrowed, part of it, or none at all.

Every Customer Review
is a Story of Trust

"
During a cash shortage while waiting for clients to pay me, Zil Money let me put my payroll on my credit card. It provided a bridge so my business did not suffer. It was super easy to set up and use.