If you’re like many small business owners, you have probably opened one or more business lines of credit over the years. Whether you wished to fund a new storefront, buy some new equipment, expand your online presence or develop a new product line, the extra money probably came in handy at first. Your business may even be in better shape today than it would have been without that access to quick cash.
But if you’re no longer in need of the liquidity that a credit line provides and still find yourself with thousands of dollars in related interest and principal payments piling up with no end in sight, you need to begin paying off your debts in a meaningful way.
If you’re just barely making your credit line’s minimum payments and feel like there’s no end in sight, you may require the services of a debt relief professional actually to reduce the principal amount that you owe. Our free debt analysis takes only a few minutes, and you won’t have to pay a dime for debt consolidation services until you see real results.
Many business owners mistakenly assume that paying off a business line of credit is as easy as paying off a business loan. Unfortunately, business loans provide borrowers with added security in two important ways.
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