Smart Business Owners in New Mexico Learn to Protect their Personal Credit Rating with Business Lines of Credit with Free CD
Released on: July 1, 2008, 1:44 am
Press Release Author: Pat Gage
Industry: Financial
Press Release Summary: National Speakers Upset Over Pat Gage Giving Away Trade Secrets for Free-- The \"10 Steps To Money Quick Start\" CD
Press Release Body: Pat Gage, the Opportunity Creator, shared some valuable information about business lines of credit at an investor's meeting in Santa Fe. He said "good debt" is ok, but that "bad debt" can be a disaster. This applies to personal and business balance financial statements.
Pat described what is meant by bad debt; 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.
Good debt provides a competitive advantage, like access to cash allowing one to take advantage of a profitable opportunity. Having the ability to act quickly using cash reserves or business credit can make all the difference.
Pat covered the strategy of borrowing money to invest it for a significantly higher return. He also warned not to make the mistake of spending borrowed money on something that won't create enough additional cash flow to justify the expense. Business owners 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 for any purpose, available cash for emergencies and renewable, useable source of funds.
Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on FREE CD on business line of credit, visit Gage's site at http://www.10stepstomoney.com
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