Does revenue for your business come in like clockwork? Or do you experience an ebb and flow of cash at different times of the year?
If your cash flow fluctuates seasonally or changes with certain market conditions, you might need an infusion of capital for unexpected short-term expenses, equipment repairs, general cash flow needs, and more. A cash boost also can help you seize an opportunity to grow, hire staff or secure a new deal.
When used wisely, a revolving line of credit can improve cash flow and help your business navigate dips in the road. Here are some of the benefits of using a line of credit as an outlet for having working capital to boost your cash flow on hand:
Most credit lines must be secured by collateral, which is why rates on secured lines are lower compared to unsecured credit cards. These secured lines are generally backed with an asset such as inventory or accounts receivable.
At California Bank & Trust, you can get same-day decision and next-day financing for borrowing needs under $50,000. For financing over $50,000, there are customized lines of credit to address your specific needs. Contact our business bankers with questions.
Is a line of credit right for you?
A line of credit may be a good solution for your business if you need working capital to help:
Contact a business banker at California Bank & Trust or visit a branch near you to learn more about your options.[cite::171::cite] [cite::172::cite]