A bank line of credit: Should your business have one?

Educational Articles | 05.24.2013

If you own a business, you are probably familiar with the universal need for money.  Though we’d all like to think that our entrepreneurial endeavors will become self sustaining very quickly, the truth is that most businesses will, at some point, require some kind of supplemental income to keep going.  There are many expenses that an entrepreneur has to consider before going into business, and without fail, many more will crop up unexpectedly.

So where do we get the money we need to keep the business trucking along? There are many options, ranging from investing our own personal income, to taking out loans and obtaining grants. In the following article, we discuss when it is appropriate to take out a bank line of credit, why you might want to do so, and what kind of process you will need to go through to get one.

Should Your Business Have a Bank Line of Credit?

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