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business strategies to meet cash flow
More is not always better . It is very attractive to hear that the credit line is high, or that you are tempted to acquire more than one loan, but it is recommended that you only have one credit for SMEs at a time and that you only apply for the credit line you need; Thus, you will keep your debt capacity balanced. futuretechexpert
Create
a short-term cash improvement strategy . If
you are facing a pecuniary crisis, you can use SME credit as an injection of
money, but you cannot always depend on it. It is best to create a strategy
that allows you to generate extra income to create a backup fund of between 3
to 6 months of cash. This way you can pay off your credit with your
regular income and then consolidate your stability with the fund.
Take
help of the flexibility of a line of
credit. Also seek to obtain a business line of credit since, unlike a
credit for SMEs, you have a credit limit, but that does not mean that you
should use it all. Plus, it will always be there to bail you out when
needed. This type of credit allows you to cover an immediate need that you
can cover in your next bill collection, so the interest would not represent an
important debt for your business.
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