Florida gas prices jump 12 cents; most expensive since 2014 UF/IFAS in Apopka will temporarily house District staff; saves almost $400,000 Share on Facebook Tweet on Twitter You have entered an incorrect email address! Please enter your email address here Please enter your name here Please enter your comment! Previous articleOrange County Impact Fees Benefit CommunityNext articleThis Day in History: Tortilla Flat is Published Dale Fenwick RELATED ARTICLESMORE FROM AUTHOR A small business line of credit offers numerous advantages for entrepreneurs who need to protect their businesses and maximize their profits. Since all businesses experience cash flow fluctuations and issues from time to time, it’s a good idea to have a plan in place to even out those rough edges until your business gets its financial footing again.Meet Unexpected Expenses Without WorryPrepared small business owners don’t have as many financial hassles or worries because they know they have unexpected expenses covered.A small business line of credit is different from a loan. You don’t have to take the money if you don’t need it, but the cash is there when you do have a need to meet an unexpected expense. If the plumbing in your building fails or if you need to increase your inventory at a moment’s notice, you can tap your line of credit and take care of the issue with a simple funds transfer.If you rely on loans, on the other hand, you can’t get access to money until you apply for the loan, wait through the approval process, and transfer the funds to your bank account. Even a few days can make a huge difference in your success when responding to an emergency or an urgent business need that could affect your bottom line.Pay Lower Interest RatesEvery bank sets its own rates for lending products, but in most cases, you’ll pay less interest on small business lines of credit than you will on loans or credit cards. This means that the cost of borrowing the money will be less, so you don’t have to work as hard to make up the difference. As a user, the knowledge of common credit card jargon can help you explore more options and possibilities, and help you make the best choice.Plus, you don’t have to pay interest when you don’t need the money. With a loan, you have to make monthly payments regardless of your financial situation. A small business line of credit works differently. Since it’s a revolving account, your payments change based on your activity.Take Advantage of DealsLines of credit allow you to take advantage of good deals when they come your way.The hottest product of the season is released and you want to carry it on your retail store’s shelves. Unfortunately, you don’t have the liquid capital to purchase the merchandise.That’s where a line of credit comes in. You can use it to take advantage of deals, whether it’s inventory for a store or an upgrade to your technology. You don’t have to wait until your revenue is in line with the expense of the product or service you need.Save Your BusinessIn some cases, lines of credit mean the difference between closing your business and keeping it alive for the future. When cash flow issues become insurmountable, you might just need a financial boost to get you through the rough patch.It’s not worth losing your dream. Applying for a line of credit allows you to protect your business in the future. When you need cash, it’s available to you.“The best time to apply for a line of credit is before you need it,” according to Bill Arrowsmith, Executive Vice President of Seacoast Bank in Apopka. “It is the best way for a small business owner to ensure access to the cash you need to help your business grow and succeed.” Gov. DeSantis says new moment-of-silence law in public schools protects religious freedom LEAVE A REPLY Cancel reply Save my name, email, and website in this browser for the next time I comment.