Thursday, 19 May 2016

Best Borrowing Practice for Business

Your relationship with your banker is like your manager. Your keep upon good terms with him and great times lie ahead of you. You lose his trust and the downfall starts. The best time to borrow money is when you don’t needs it. The best time to borrow money is is when you don’t need it. It maintains a good impact on the bank as your finances are intact. This is exactly when you should make your turn for the next stage of borrowings. Your chances of getting your business loan approved are much higher, and you will be in a superior position to negotiate terms since you don't generally require the funds right then. The worst time to negotiate a new loan is a week before you absolutely needs the funds. As business, you always require access to a prepared cash flow, and this is the best approach to ensure you have it.

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