Business Line of Credit Provides Flexible Source of `Good Debt`
Released on: September 14, 2007, 5:10 am
Press Release Author: Janak Mehta
Industry: Small Business
Press Release Summary: We've all heard that "good debt" is ok, but that "bad debt" can be a disaster. That's true for someone's personal balance sheet and may be even more important for a small business.
Press Release Body: What's "bad" debt? Think high interest rates for cash spent on depreciating assets. It's impossible to grow personal wealth or business value if most of what comes in is used to pay off high interest credit purchases that have little or no lasting worth.
What's "good" debt? Consider debt that provides a competitive advantage. For example, access to cash might allow you to take advantage of a profitable opportunity that you would otherwise miss. Sometimes, having the ability to act quickly using cash reserves or business credit can make all the difference.
If you were able to borrow money and invest it for significantly higher returns, would it be worth it? It might if the investment was in line with your business plan and made sense to your overall strategy. However, do not make the mistake of spending borrowed money on something that won't garner enough of an upside return or create enough additional cash flow to justify the expense. You may very well jeopardize your financial health. Businesses frequently turn to long term financing for working capital or borrow to buy equipment or to pay for business expansion. The loans are usually secured by tangible assets, by receivables or sometimes by the owner's personal assets, such as a home.
For short term funds, a preferred alternative is an unsecured business line of credit. Some advantages of a business line of credit include:
. Interest paid only when the funds are used . Pre-approved credit . Money can be used for any purpose . Available cash for emergencies . Renewable, reusable source of funds
The online resource at http://www.getbusinesslinesofcredit.com provides an unsecured line of credit for business owners and entrepreneurs. Business owners with credit scores of at least 675 can get a business line of credit up to $500,000. Even a brand new startup business can qualify for up to $100,000. The business line of credit is tied to the business and does not impact the owner's credit report.
Credit lines are available in the following states:
Alabama (AL), Alaska (AK), Arizona (AZ), Arkansas (AR), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Indiana (IN), Iowa (IA), Kansas (KS), Kentucky (KY), Louisiana (LA), Maine (ME), Maryland (MD), Massachusetts (MA), Michigan(MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV), New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Tennessee (TN), Texas (TX), Utah (UT), Vermont (VT), Virginia (VA) , Washington (WA), West Virginia (WV), Wisconsin (WI), Wyoming (WY)
Credit lines are available in following Major Metro Areas:
Albuquerque, Atlanta, Austin Baltimore, Boston, Charlotte, Chicago, Chico, Cincinnati, Cleveland, Columbus, Dallas, Fort Worth, Denver, Bolder, Detroit, Ft Lauderdale, Palm Beach, Harford, Houston, Indianapolis, Jacksonville, Kansas City, Las Vegas, Little Rock, Long Island, Los Angeles, Memphis, Miami, Milwaukee, Minneapolis, St Paul, Monterey, Nashville, New Haven, New York, Oakland, East Bay, Oklahoma City, Orange County, Orlando, Philadelphia, Phoenix, Pittsburgh, Portland, Puerto Rico, Raleigh-Durham, Reno, Tahoe, Rochester, Sacramento, Salt Lake City, San Francisco, San Jose, Silicon Valley, Santa Fe, Seattle, Spokane, Springfield, St. Louis, Tampa, Toronto, Tucson, and Washington Dc.
For further information: info@www.GetBusinessLinesofCredit.com
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