This post was originally published on On Deck
If you’re a small business owner, it’s important to have financial flexibility to see you through the ups and downs of entrepreneurship. You will probably encounter slow periods, or an emergency expense or two that will pop up.
That’s where a business line of credit can help.
A business line of credit has many uses. And while it is often used for short-term expenses, a business line of credit also puts funds right at your fingertips for times when you need to make small investments or upgrades — fast. Compared to a term loan, which provides funding in a single lump sum, a business line of credit gives you access to a credit limit that you can draw from as needed.
Here are five of the best ways that business owners can use a line of credit.
Uses for a business line of credit.
In today’s fast-paced world, having quick access to business financing can make all the difference. A business line of credit can function as a safety net, giving you the liquidity you need to manage your cash flow. And it can be used to pay for operational expenses that typically aren’t covered by a business credit card
— Read the rest of this post, which was originally published on On Deck.
