Business Opportunities Weblog

Getting A Biz Line Of Credit

By on April 25, 2008 in Ideas


Work.com:

A business line of credit – ready cash anytime you need it – is a marvelous and flexible financial tool to help a small business grow and keep you in control.

Establishing the revolving credit line is cheap, you only pay interest on what you borrow and you can use the line for almost anything.

  • Tap your small business banker for a business line of credit.
    Banks that serve small biz offer commercial lines of credit. Biggies like Wells Fargo offer small business credit lines up to $100,000 that you can apply for online, even if you’re not already a customer.
  • Prepare the information you’ll need to borrow money.
    To obtain a credit line, you may need to supply financial information about your business and/or yourself to potential lenders.
  • Calculate your working capital needs.
    For help figuring out how big a credit line you need, use this free online calculator.
  • Look to non-banks like UPS and American Express.
    UPS – a big name in small biz shipping – is also a major small business lender under its UPS Capital wing, offering loans and lines of credit. And the American Express “Open for Business” program offers business lines of credit.

Read more.

Photo by woodsy.

credit financing strategy

Rich Whittle has added 6,226 posts to Business Opportunities Weblog.

Another Idea: How to Start a Printing Business Small Business

  • http://http//solarshingles.blogspot.com/ curt

    Business credit cards are very useful, because one could keep all his business expenses ‘under on roof’ – transparency. My personal experience with business credit cards is very good, even though there have to be very tight financial control about the purpose of spending in the case, where many employees uses many business credit cards issued for the same company.

  • http://www.rapidbusinesscredit.com/business-line-credit.html small business lines of credit

    Hi,Your credit score is usually one of the first items that a mortgage lender will look at. Mortgage lenders look at not only your score but items on your credit report.

  • http://www.creditcardhelp.com.au credit

    Thanks for the tips. A ‘line of credit’ or over draft facility with our bank has been invaluable for our business cash flow. I highly recommend it.

Today's Posts