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Where to Look for a Business Line of Credit

Anyone who has been in business knows that there are both growth and slow times in a business’s life.  In fact, those growth periods are why business owners stay in the game. There is nothing like the energy that is created when your company is growing. On the other extreme there is nothing worse than the down periods in a business.  A business’s revenue and profits often runs like a squirrel, never in a straight line.  As a result, the trick in business is staying around through those periods and having financing or a business line of credit in place to handle both ends of the spectrum.  They say managing cash in a small business is like trying to walk across a river with an average depth of four feet, even though you should be able to keep your head above water if you don’t plan you could drown in the middle.

It is a tough time to borrow money or to get a business line of credit in today’s financial market and that trend will probably continue for many years.  A bank really only wants to give you a line of credit or fund when you don’t need it and when you really need it, your bank will make it so laborious, challenging  and costly that you might just forget about putting one in place. Then, when you really need that fund, it will take too long to get it.

One of the newer trends in the financial market is called “Hard Money Lending”.  Hard money lending is when money is lent to a company by private companies, not banks, and usually based on factors that banks or other financial institution will not consider and the fund often can be closed very quickly.

A new service by Financing Solutions provides an established business owner a line of credit so that the business owner can be covered during the ups and downs of their business and can be preapproved in case of an emergency.  In another option to a line of credit, Financing Solutions can come to the rescue in the case when an unforeseen expense hits a company which might cause that company to miss payroll.

The key to having financing in place is to talk to your financial institution, like Financing Solutions, in advance so you have a partner when you really need them.

Financing Solutions (www.fundmypayroll.com) was one of the first companies to provide short term, unsecured, fast funds for working capital to viable companies, allowing one to have a funding resource better then a bank or factor so there is no missed payroll in times of increased sales or unexpected expenses.


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