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It’s true that nothing good lasts forever, and this is especially true in regards to the wildly fluctuating state of the economy.
While 2018 proved to be a great year for businesses nationwide, predictions from leading economists warn that this period of tremendous growth is not likely to last in 2019.
So, why is an economic slowdown expected, and what are business owners doing to prepare for it?
Revolving business lines of credit are commonly known as one of the best financing options for business owners who need capital to prepare for the unexpected.
They’re also one of the most flexible financing options still available to business owners during the SBA shutdown.
With the government in shutdown for the foreseeable future, the SBA closing its doors, and an economic downturn expected in 2019, more business owners are seeking revolving credit lines than ever.
And with the rate hikes expected in 2019, business owners are applying for revolving credit lines sooner rather than later in order to secure the lowest rates possible.
Whatever the case may be, revolving business lines of credit are proving to be exceptionally useful in preparing businesses for any unpredictable scenario, due to:
Although similar to a traditional business line of credit, there’s a few key differences that make it more desirable for most business owners.
The “revolving” part of the name comes from the nature of how the line of credit works.
Different from a small business loan, you don’t have to use the entire amount you borrow. The amount you take out can be immediately replaced, and taken out again.
The cyclical pattern of drawing, replacing, and repeating is what makes true revolving credit lines so convenient!
Use a true revolving line of credit to be prepared for any unexpected challenge or opportunity that comes your way.
There are no industry restrictions, and absolutely no restrictions on what you can use your funds for.
Whether you need to purchase materials, fix a broken piece of equipment, or take advantage of a surprise opportunity, true revolving business lines of credit are the ideal choice for anyone preparing for the unexpected!
The flexibility of a true revolving BLOC is also extremely effective when preparing for a potential downturn in business.
Other benefits that set make revolving business LOC’s a step up from most other business financing options include:
Chances are you do. Here’s what you DO need:
With services that boost credit, get rid of tax liens and judgements, and even erase past bankruptcies, National ensures true revolving lines of credit are available to ANY business owner.
We’ve been flooded with requests for true revolving business lines of credit, and the turnout has been phenomenal. Over 90% of all those that apply obtain financing within 24 hours!
Let’s say you’re the owner of a construction business, and you’re preparing for a busy season. You need fast access to capital to prepare for potential downturns, and to take advantage of any opportunity that comes along.
You’re given a credit line with a set amount—anywhere from $10K to $5Mil.
Let’s say you recieve a business credit line of $500K.
An extra job pops up that you’re not prepared for… just as your bulldozer breaks down.
To take on both challenges, you draw $100K to get the materials and equipment you need to take on the additional job, and $50K to fix the bulldozer.
Both challenges are immediately squashed, and you’re left with $350K in your credit line.
You’re presented with an opportunity to expand your business, but you need $400K to do so.
You replace $150K of the money you earned from your extra project back into your credit line, leaving you with $500K.
You use $400K to expand your business, leaving you with $100K to use or add to however often you like!
Starting to see the cyclical nature of true revolving business credit lines?
Not every business LOC is created equal. Most lenders will claim their lines of credit are “revolving” when they aren’t.
If you’re offered a line of credit that doesn’t give you the freedom to put capital drawn back into your credit line, making it available to draw from again, then don’t be fooled—this is NOT a true revolving line of credit!
National is an industry leader in getting customers what they truly need, exactly when they need it.
If a true revolving business line of credit sounds like the perfect funding option for your business, follow the instructions below to get one in as little as 24-48 hours, and feel confident in avoiding all empty promises and misdirection from incompetent business financing companies.
Simply call us at (877) 482-3008 or apply online by filling out our 1-minute application, and we’ll work together to get you funded in as little as 24 hours!
National Business Capital is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
Joseph Camberato, CEO at National Business Capital & Services, developed a passion for business at a young age. Joseph has a true respect for anyone who owns a business and enjoys engaging them in discussions of how they “made it happen.”