A business line of credit (LOC) is a familiar loan that’s appealing to many because of its flexibility. It can be easily misunderstood, however, so understanding its nuances are important. A discussion with a lender will often determine whether or not it’s the best solution for a borrower’s needs. Other loan products are often better…
Every business has the occasional gap between expenses and accounts receivables, or needs a sudden infusion of cash for something unexpected. It’s just a normal part of doing business. Maybe it’s expensive seasonal merchandise that requires prepayment but won’t generate revenue for another six weeks, or slow accounts receivables when payroll is due… but how the…
Virtually every small business begins its financial life leveraging the founder’s personal credit history and borrowing capacity. Personal credit cards, savings accounts, loans from family or friends… these are common ways to fund a startup. Building a credit history in the name of the business is the next step, often by opening business checking accounts…
New phone systems, specialized machinery, software with a hefty price tag, bulldozers or fleet vans… sooner or later, many businesses need to invest in some form of equipment. It’s a natural progression as a business grows and ages. For many, the knee-jerk reaction is to use an “already available” line of credit or operating capital…
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