Do you have a small business credit line? You may want to build a small business credit line with your local bank. One thing worth considering when we’re talking about small business and a cash flow, think about borrowing $100 to $1,000 from your banks every 90 days or so. Simply borrow the money, and place it in an interest bearing account, and then pay it all back at least a month or so before it’s due.
By doing this, you will increase the borrowing power of your signature, and strengthen your ability to obtain needed financing on short notice. This is a kind of business leverage that will be of great value to you if or whenever your cash position becomes less favorable.
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