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re: Need loan for new small business. CC, SBA, cash, etc…?
Posted on 12/25/23 at 7:10 pm to BayouBengal23
Posted on 12/25/23 at 7:10 pm to BayouBengal23
Use your own money to buy the trailer and get a revolving line of credit for operations. Use trailer as collateral for line of credit.
If you’re profitable you’ll regain your savings pretty fast and if you need the line of credit for other expenses you’ll only pay interest on the amount you’ve used at end of each month. It’ll keep your interest cost lower than getting a full loan up front.
If you’re profitable you’ll regain your savings pretty fast and if you need the line of credit for other expenses you’ll only pay interest on the amount you’ve used at end of each month. It’ll keep your interest cost lower than getting a full loan up front.
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