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Six Questions to Ask Before Getting a Business Line of Credit
March 05, 2018
Business owners will tell you that cash flow is the lifeblood of any company. And most commonly, a business line of credit from a bank is the IV that keeps that lifeblood flowing. This financial tool is used by even the healthiest of businesses to provide a needed cash infusion to support the growing needs of a thriving business.
Whether you’re looking to grow your business, bring in seasonal employees, or just have the peace of mind that comes with having a safety net of cash at your fingertips, a business line of credit can be a critical part of your business plan.
When seeking a line of credit, you’ll want to make sure you ask these important questions:
Not sure if a Business Line of Credit is right for you? Here are questions to consider.
- Do you want the freedom and savings that come with having enough cash on hand to buy in bulk?
- Are you a seasonal business that could be better prepared for your busy season (and be able to grow your customer base) if you had the cash to add additional employees or stock up on products, equipment, etc?
- Are you looking for a safety net of cash?
- Do you need short-term capital so you don’t miss out on big opportunities that can make the difference in whether your business thrives versus just survives?
The business environment for 2018 in Philadelphia and surrounding counties, NJ and Delaware is well suited for growth. Doing a financial health check and establishing a new line of credit could be just what you need to take your business to the next level.
Put Insights Into Action: Firstrust Business Line of Credit