You may have heard of a business line of credit and wondered why you’d ever need one. After all, your business is doing well and there is plenty of cash to pay the expenses. You don’t need a loan, right?
The truth is it’s not that simple. Business lines of credit have multiple uses beyond being a source of funds for business owners to pay for large capital expenses. From cash flow flexibility to being an alternative to expensive cash reserves, business lines of credit can come in handy for any small business owner. Read on below to find out how!