I am sorry your credit line is almost used up. Here at the bottom of the food chain, I am too small and haven't been independent long enough to get a business line of credit, and using my home or personal guarantee defeats the purpose of it being a BUSINESS line of credit. So it must have been nice to borrow your way out of trouble in the past.
My company doesn't borrow money. If it can't be in cash, we can't afford it. Sears and several other major world players started that way, so LCTE can too. Not overspending and socking all those profits away in savings is MY credit line. I understand that some businesses feel they need a credit line for capital, but it just doesn't make sense to me. In order to abstract, you need a phone, a computer, email, printer and a car to get to the courthouse. Later, as you can afford it, you add a cell phone/pager, a portable scanner, upgraded software, more hardware, etc.
Borrowing for receivable problems is like all those commercials for bill consolidation loans that say that by getting one--you're getting out of debt. WHAT? What, may I ask, exactly IS a bill consolidation loan---DEBT! Then they go back out and recharge the credit cards because they haven't learned the core lesson---you can't afford all that crap you're buying! Same for most businesses---using a credit line on a revolving basis isn't alleviating the core issues or learning the basic business principles of not growing too fast and getting overextended.
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