Tag: business line of credit

Meeting your small business cash needs can be challenging. When it comes to financing, one of the many options is small business bank loans. Many banks will offer both traditional loans and lines of credit. Each provides different benefits and is better suited for certain types of businesses. Here’s how to figure out which one is right for your company: Traditional Bank Loan A small business loan from a bank will allow you to borrow a specific, fixed amount of money that must be paid back […]

Having enough cash on hand – working capital – to pay for day-to-day operations is essential for creating a successful small business and yet accomplishing that task is actually much tougher than it sounds. It will require some careful thought and planning. THINK BIG Start by making some long-term plans and projections for your business. You need to have a very good estimate of how much money you plan to bring in over the course of a month and during the whole year. You should also think through […]

Every business is unique. No two companies will have the exact same financial needs. Before starting a scramble for business funding, it helps to think hard about the specific essentials for your company. Once you have a list in place you can then determine the best source of business financing for your operating requirements. The following inventory of needs may aid you in the process: Office Space Does your business need an actual facility in order to function? Starting out in your home or […]

Having access to cash as a small business is crucial for growth and flexibility. Business lines of credit have always been an ideal source of financing…for those who could qualify. A traditional line of credit from a bank offers some of the lowest rates and largest credit maximums, but they also require good credit scores and proven track records of substantial annual revenue. Fortunately, for all those businesses that don’t fit that profile, many alternative lenders offer business lines of credit […]

Small businesses, especially start-ups, often suffer from gaps in their working capital. Brand-new companies often do not have the cash to stay afloat between buying inventory and collecting on their first cycles of accounts receivable. Business lines of credit can be a helpful way to cover that shortfall in the short-term. A line of credit is a loan that works similar to a credit card – the bank sets a limit for the borrower and the entrepreneur can borrow up to that limit during a specified […]