Fuel your business with a Figure HELOC
- It’s easier than ever for entrepreneurs to qualify by verifying their business income.
- Lock in a competitive rate6: Navigates to numbered disclaimer. 5 minute approval with our 100% online application2: Navigates to numbered disclaimer. Funding in as few as 5 days2: Navigates to numbered disclaimer.
- Borrow from just $15k up to $750,0005: Navigates to numbered disclaimer. Redraw up to 100% as you repay.
- Get your rate as of October 14, 2025. Checking your rate won’t impact your credit!3: Navigates to numbered disclaimer
3,752 Excellent Reviews on Trustpilot rating: 4.8 out of 5 stars Opens in a new window. Opens in a new window.
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What is a HELOC?
A home equity line of credit (HELOC) is a revolving line secured by your home. You draw what you need (up to your credit limit), repay, and can draw again — similar to a credit card, but typically at lower rates because it’s secured.1: Navigates to numbered disclaimer 8: Navigates to numbered disclaimer
Figure HELOC 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.
| Figure HELOC | SBA loan (7(a)/504) | 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 | Often none, varies by lender |
| Tax deductibility: Generally not deductible unless funds buy/build/improve the home securing the loan7: Navigates to numbered disclaimer | Interest typically deductible** | Interest typically deductible** | Interest typically deductible** |
| Funding speed: In as few as 5 days on loans of $400k or less2: Navigates to numbered disclaimer | Typically 30-90 days, SBA Express faster | Instant to a few days (virtual card numbers common) | Often 1-7 business days with online lenders |
| Average APR: Competitive, fixed and variable rates6: Navigates to numbered disclaimer | Prime + spread; 10.5–15.5% depending on term/amount**** | Often 1-7 business days with online lenders | Widely varies by lender from single digits to 30%+*** |
- * wallethub.com/edu/cc/business-credit-card-statistics/142187
- ** sba.gov/blog/5-tax-rules-deducting-interest-payments
- *** bankrate.com/loans/small-business/average-business-line-of-credit-rates/
- **** lendio.com/blog/sba-loan-interest-rates
How does a HELOC for business work?
A HELOC lets you unlock your home’s equity to access flexible funding for your business. With Figure, the steps to getting a HELOC are fast, digital, and designed with entrepreneurs in mind.
- A strong credit profile and payment history
- Available home equity
- Verifiable income
- Self-employed homeowners may qualify if they meet equity, credit, and income requirements.
- LLC owners can use a HELOC for business purposes, but remember — the loan is secured by your home as the homeowner, not by the LLC.
- 1
Prequalify online
See your options in minutes with no impact to your credit score.3: Navigates to numbered disclaimer
- 2
Verify property and income
Upload documents digitally; no in-person appraisal needed for loans under $400k.5: Navigates to numbered disclaimer
- 3
Get funded quickly
Eligible borrowers can get funding in as few as 5 days.2: Navigates to numbered disclaimer
- 4
Draw and redraw
Use funds for business or personal needs; for Figure's fixed rate1: Navigates to numbered disclaimer option, each new draw locks a new rate at the time of draw.
Common uses of business HELOC funds
Startup and expansion costs
Equipment and inventory
Working capital
Emergencies and repairs
Use our HELOC calculator to see how much you could qualify to borrow**
The amount you can borrow with a HELOC will vary based on certain factors such as the appraised value of your home and what percentage of that value the lender will allow you to borrow.
To determine how much you can borrow with a HELOC, you need to first calculate the maximum amount of equity that could be borrowed. Figure’s loan amounts range from a minimum of $15,000 to a maximum of $750,000.5: Navigates to numbered disclaimer
Checking your rate today won’t impact your credit!3: Navigates to numbered disclaimer
Adjust the chart below to create the custom amount that relates to you.
$800,000
Current Home Value
$550,000
Remaining Mortgage Amount
In this scenario, you could qualify to borrow up to
$90,000
Check Out Your Rate For Free*Based on borrowing 80% of your current home value
Enormously helpful throughout the process
I recently took a loan through Figure. They were enormously helpful throughout the process. Being a senior citizen businessman I appreciated their making my time count. I plan on using them again if possible to fund my future business needs.
Written by customer— Joe M.
Now my go-to source for funding
As a small business owner who periodically needs capital, I am so happy I found Figure. This is now my go-to source for funding. I’ve borrowed from them twice. They are fast, friendly, and efficient — and their rates have been amazing. Buh-bye, hard money lenders.
Written by customer— Lynne P.
Fast, Smooth and downright AMAZING!
I have never had such a smooth experience with a lending institution. Your system is spot on (I own a software company). The ease of use, speed and ability to do EVERYTHING on line was incredible!
Written by customer— Ezra W.
3820 Excellent Reviews on trust pilot
Trustpilot reviews Opens in a new window.FAQs about business HELOCs
Many applicants complete the application in as few as 5 minutes; eligible loans can fund in as few as 5 days after verification.2: Navigates to numbered disclaimer
Figure offers lines from $15,000 up to $750,000, subject to qualification and state limits.5: Navigates to numbered disclaimer For properties located in Alaska, the minimum loan amount is $25,001 and for properties located in Texas, the minimum loan amount is $35,000.
Figure’s HELOC offers both fixed and variable rates. If you select a fixed-rate Figure HELOC, each draw locks in a fixed rate at the time of draw; that rate doesn’t change over time.1: Navigates to numbered disclaimer However, if you select a variable-rate Figure HELOC, the rate will adjust monthly based on the market.9: Navigates to numbered disclaimer
You can take additional draws during the draw period and then repay over the repayment period per your agreement.1: Navigates to numbered disclaimer 9: Navigates to numbered disclaimer Specific term options are provided during application and vary by state and qualification.
Generally, HELOC interest is deductible only when used for qualifying home improvements; business use typically isn’t deductible against personal taxes. Consult a tax professional.7: Navigates to numbered disclaimer
Like any credit line, it can impact credit utilization and payment history. Prequalification with Figure doesn’t affect your score.3: Navigates to numbered disclaimer
Yes, if you qualify. It's important to understand the risks: a Figure HELOC is secured by your home, so ensuring you have a clear repayment plan is important.