|At a glance — Overheads such as salaries and running costs, are a reality of every business. What’s more, equipment maintenance or replacement cost can suddenly arise without warning. If your business is going through a slow period, or you are waiting on several high-value payments, your cash flow could be greatly impacted. This could potentially jeopardize your business.|
Many businesses form agreements with a lender for a certain amount of cash to be set aside until it is needed. This works much like an overdraft - once you repay a certain sum out of the line of credit, that cash becomes available again.
A business line of credit is a type of loan for a new business that can give you the extra boost your business needs, while you are growing your invoicing levels.