Remodelers Advantage’s Victoria Downing writes about what remodelers need to do for a short-term or long-term cash infusion. She also writes on what you need to do before approaching a lender for either a loan or line of credit. Do you know when to choose a line of credit versus taking out a loan?
As Downing writes,
A business loan is better when you need to make a large, one-time capital investment that will increase the value of your company over time.
Think of a line of credit as an insurance policy providing a cushion of cash when you need it. That’s why it’s important to apply for a line of credit before you need it!
Read all of Downing's advice by clicking the link below.