Access to Capital

Secure Funding: How to Prepare for Your Meeting With a Small Business Lender

Running a small business doesn’t come cheap. Even if you’ve scrimped and saved to bootstrap the operation on your own, or were fortunate enough to get an investment from friends or family, there may come a time when you need a loan to continue operating your business.

Whether it’s working capital to fulfill a large order, a small loan to purchase new equipment, or a large loan to expand to a new location, chances are that at least once in the life of your business you’ll need to approach a bank for a loan.

What is Cash Flow?

From startup and everyday operating costs to growth and expansion costs, cash is the lifeblood of a business. Large corporate organizations and small business alike are required to make decisions about where and when to spend (or not to spend) money. To do this, it’s imperative that you monitor what is commonly referred to as “cash flow.”

The 4 Lines of Credit Now Available to Small Businesses

A line of credit is the most sought offer financing option for business owners. Why? The flexibility they provide is unparalleled. Whereas your typical term loan will give you one lump sum of cash to use -- and to pay back over time -- a line of credit is more like a reserve pool of a set amount. You can draw capital up to that maximum when you need, and you’ll only pay interest on what you withdraw.

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