Have you ever noticed that it is a lot easier to borrow
money when you don't need it? The reality is that if you
are down and out - either personally or in your business -
nobody will lend you a dime. If you're riding high, people
(and institutions) seem ready, willing and able to open
their wallet.
The best solution is to make sure you have access to money
now, before you need it. You don't necessarily need cash in
hand, either. Having a flexible line of credit that you
can use when you need it can be just as effective.
Here are seven great reasons for establishing a dependable
source of money NOW, rather than when the roof is caving in.
1. Timing is everything. At the risk of being redundant,
nail down a dependable source of cash before you need it.
If a great opportunity comes up, you want to be able to act
immediately. If there's an emergency, you don't have time
to start looking for funds. Either way, cash - or its
equivalent - can make the difference. In short,
opportunities don't wait. And you can't wait if there's a
crisis looming.
2. Make decisions from a position of strength. It is
empowering to make a business decision knowing you have a
definite pool of money to work with. It brings a degree of
clarity that wishing, hoping and guessing can't match.
3. Stay in control. In business, almost nothing can put
you into a tailspin like a significant financial squeeze.
If you have to make payroll or meet an unexpected expense,
you'll have to scramble to "pull forward" anything with a
dollar sign attached. Would you feel more in control if
you had a pre-approved line of credit that you could tap if
and when an emergency occurred?
4. Changing market conditions. In recent months, top
mortgage lenders have closed their doors or severely cut
back programs for home buyers. Forclosures are high. The
current housing and mortgage environment is creating
pressure on business in general. Unsecured credit is
almost impossible to find. If you can find a line of
credit today, don't wait.
5. Convenience. What could be more convenient than having
a pre-approved line of credit available that you can use
with the ease of writing a check? You certainly don't want
to jump through a lot of hoops every time you need to use
the money. For most people, ease of use, minimal hassles,
and clear step-by-step processes are worth the investment.
After all, how much is your time and peace of mind worth?
Find a line of credit that is easy to get and easy to use.
6. Separate your personal assets from your business. Many
entrepreneurs and small business owners fall into the trap
of using their own money and credit to build their
business. This can have a serious impact for the business
owner. Consider the implications. A business owner's
personal assets and credit can be eaten up quickly if he or
she acts as the bank. Also, personal debt can slam your
debt-to-income ratios, which could limit you if you wanted
to buy that new dream home. Create a line of credit for
your business, instead.
7. Use Other People's Money. Leverage is the name of the
game. While you have to consider the cost of money, the
leverage you gain by being able to use OPM can make the
difference in creating wealth and positioning your business
for success. A business line of credit can provide
start-up capital, consolidate debt, fund business growth,
and replace personal money used to fund business expenses.
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For more information:
info@www.GetBusinessLinesofCredit.com
To apply for a business line of credit:
http://www.GetBusinessLinesofCredit.com
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