A Line of Credit... Just in Case

Business Line Of Credit

Where Are There Business Lines with No Personal Guarantees

Does Any Lender Offer Business Lines with No Personal Guarantees

To start a small business, you begin with your own ambitions and vision but in order to keep being successful, you may want a business line with no personal guarantees. Financing Solutions provides business lines with no personal guarantees or in other words, a business line of credit. The line requires no collateral, no personal […]

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What to Say to a Payroll Funding Company

About to miss payroll

You’re about to miss payroll and you start looking for a quick line of credit by typing payroll funding company in Google. Whether it’s a client payment (or payments) that are late or an unexpected business expense that came up; you’re afraid of sending shock waves through your company by missing payroll. Telling your employees […]

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Line of Credit for a Nonprofit Business: Personal Guarantees

Line of Credit for a Nonprofit Business Personal Guarantee

Personal guarantees are a financing tool designed to reduce the risk to a lender if a borrower defaults on a loan or line of credit. As with all things related to risk, personal guarantees don’t eliminate it. They merely shift it from one party to another. In this case, the risk shifts from the lender to the person signing the guarantee.

The crux of the agreement is that the person signing the guarantee, called the guarantor, will pay the lender an agreed-upon amount no greater than the outstanding amount of the loan or line of credit if the borrower defaults.

For various reasons, people tend not to want to be guarantors for a business loan or line of credit. Continue reading to see some of the risks involved in signing as a personal guarantor.

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Business Line of Credit: When to Start Planning for One

Business Line of Credit When to Start Planning for One

Many businesses without lines of credit don’t think about obtaining one until it’s almost or already too late. They wait until they’re short on payday, their creditors are calling, or they’re unable to meet their obligations due to not enough revenue or a lack of cash flow.
So how does having a business line of credit avoid getting into this situation? The keyword when it comes to planning for a credit line is “prepare.” Be ready before you get into trouble, before you have cash flow and funding problems, and before you run into a shortfall. All of these are great times to consider getting a business line of credit. Because, when the time comes, you might not be able to arrange a credit line to get you out of a jam and cover necessary business expenses.

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Line of Credit for Business: Your Liquidity Safety Net

Line of Credit for Business: Your Liquidity Safety Net

Some small- and medium-sized business owners might be wondering why they would ever need a line of credit for their business. Cash flow is fluid, there’s always more in accounts receivable than accounts payable, revenue is strong, and they’re not having any trouble making ends meet.
While that’s a great situation to be in, things can change quickly. Unexpected expenses can happen. A key employee quits. A natural disaster disables your building or the clients simply start to dry up. Whatever situation applies to you, there comes a time in every business when there’s not enough cash to go around.
It’s for times like these that lines of credit for business were created. Allowing for a kind of liquidity safety net, business lines of credit allow businesses of all sizes to meet their repayment obligations without becoming insolvent in the event of a temporary interruption to their revenue.

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Business Credit: The Difference Between Efficiency and Headaches

Business Credit

Business credit can be the difference between a smoothly-run operation and a waking nightmare. Contrary to the naysayers, credit is, in fact, a powerful tool necessary for the proper operations of most small and medium-sized businesses. It allows for the prompt payment of bills and expenses, helps deal with emergent and unexpected situations, and generally makes one’s financial life significantly easier.

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Emergency Business Lines of Credit: Are They Necessary?

Emergency Business Lines of Credit Are They Necessary

An emergency business line of credit is exactly what it sounds like. It is revolving credit intended for business-related emergencies. A line of credit has no debt maturity date or repayment plan, rather the borrower is free to use as much or as little of the credit line as they choose. They make monthly payments that include interest only on the amount used from the credit line, not the lump sum. This is much different from a business loan where the business owner would make month payments on the entire amount borrowed, likely at higher interest rates.

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