5 TIPS FORGETTING ABUSINESS LINEOF CREDIT

INSPECT YOUR CREDIT SCORE

A strong credit score will lead to moreopportunities for your business. Your

credit score will affect your business, soconsider getting a strong credit score

beforehand.

MAKE A GOOD REASON WHY

YOU NEED A LINE OF CREDIT

To get a business line of credit, you mustalso be a skilled negotiator. Evaluate thereasons why you need to increase yourline of credit, and negotiate with your

bankers so they can approve your creditlimit increase.

USE YOUR LINE OF CREDIT

OFTEN

Utilise everything at your disposal,including your line of credit that's perfect

for emergencies that require a limitincrease request. Use your line of credit

more often so the bank can earn interestincome off your account.

ALWAYS UPDATE YOUR

ACCOUNTS

Your credit should always be updated,including your accounts and financial

reports. Your latest revenue numbers willdetermine if the bank will increase your

line of credit or not.

DON'T GO OVERBOARD

There's a fine line between asking anddemanding, and requesting for too much

of an increase could backfire on you.Follow tip #2 and have a justified reason

why you should get an increase with alimit of 10% to 25%.

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