This type of loan is extended to the best businesses at the bank. Typically a small business needs cash for short term reasons (less than one year) to maximize operations. A line of credit is set up for a maximum amount and the small business owner is allowed to transfer funds from the line of credit to the business’s bank account at will. Examples of the value of this loan are seasonal operations such as landscaping or retail operations relying on holiday sales.
In financing a small business, there are a multitude of tools available. One way to finance inventory is by using the 30 day pay program with your vendors. Another tool is seasonal payment program and […]