As a small business owner having access to capital continues to be a growing concern as we start off the New Year. The majority of business owners prefer small business credit lines because it allows a business to establish a significant amount of cash on demand to make purchases that are too large for a credit card and too small for a loan.
I always advise my clients and members to plan applying for a business line of credit during times of growth and cash flow. Banks are more likely to approve a credit line when it doesn’t need the funds compared to one that is financially strapped.
You can improve your chances for securing a business line of credit by listening to my podcast titled How to Secure a Business Line of Credit.
If you think you’re business is just making it fine despite the current economic times and you don’t need the credit line think again! The reality is that your business will at one point require an influx of cash in order to cover unforeseen operating expenses, development, expansion, legal fees, inventory or a range of other items that a business may require in order to grow.
To access business credit insider secrets, premium vendors, leasing companies, business credit cards, and lenders that report to all the major business credit bureaus become a member of my Business Credit Insider’s Circle. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
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About the Author
Marco Carbajo is a business credit specialist, author, speaker, and founder of the Business Credit Insider’s Circle. He is a weekly columnist for Dun & Bradstreet Small Business Solutions, a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in The Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.