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.”
Access to Capital
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.