Lack of capital and cash flow remains a major concern for most small businesses. In fact, it ranked first on the list of top challenges faced by small business owners in Guidant Financial’s 2020 Small Business Trends survey. Many small business owners are turning to a business credit line to address their funding needs.
What is a line of credit?
A line of credit is a way for businesses and individuals to borrow the funds they need to make purchases and pay bills or other expenses, such as employee salaries. The line of credit on a business credit card can also be used as a cash advance.