Glad I could help break down the differences between Business Loans and Business Lines of Credit for you. Feel free to drop any questions in the comments below that you'd like me to cover in my next videos :)
So with the line of credit are you issued a card or whatever amount you are asking for at that point is electronically sent to your bank account in cash?
Is the interest only period have a backing for how often I can renew the lease a limit or is it more similar to real estate, do you just declare bankruptcy at this point.
im planning to start a contracting business. (carpentry) I wanted to get a loan to buy a truck, trailer, and tools. Maybe a little extra to help with payroll until i get consistant cashflow. which would be better?
Good video, thanks. Are you allowed to switch from the personal loan to a business loan afterwards when you decide to place a rental property into a holding company?
Only use credit or loans if you need the money or if you don’t want to use your personal money. If you have a good buisness plan then getting loan or credit shouldn’t matter too much because you will be making profit from the money you put in. If you use your personal money then yes it’s better because you won’t have to pay interest but your also using your own money and can only buy so much stuff. Loans are just more scalable than using all ur own money.
Super informative! i think a business line of credit makes more sense for my business...
Thanks for clearing this up! I was debating on what is the best route. Super informative.
Joe, Thank you so much for this simple short video, I took me days to understand this. You use simple language. Great for English learners like me.
Glad I could help break down the differences between Business Loans and Business Lines of Credit for you. Feel free to drop any questions in the comments below that you'd like me to cover in my next videos :)
So with the line of credit are you issued a card or whatever amount you are asking for at that point is electronically sent to your bank account in cash?
Thanks for the education.
BX STAND UP!!!
Is the interest only period have a backing for how often I can renew the lease a limit or is it more similar to real estate, do you just declare bankruptcy at this point.
im planning to start a contracting business. (carpentry) I wanted to get a loan to buy a truck, trailer, and tools. Maybe a little extra to help with payroll until i get consistant cashflow. which would be better?
Do both
What if I have a vending machine business in one of my vending machines also locations with a business credit line work for me
Good video, thanks. Are you allowed to switch from the personal loan to a business loan afterwards when you decide to place a rental property into a holding company?
Thank you so much ! Great video and is very informative, so glad that I watched :)
Joe I am going to buy a business. Can you help me get there? Please let’s talk
karne wala aadami hun mujhe kya business loan Lena chahie ya FIR business
Talk about rates comparison and how to get approved ect
Oh my goodness! Did I need to understand this!!! thanks.
So what’s the benefit of using the bank’s money in a line of credit if I have money in my checking account? Won’t I just end up occurring interest?
Only use credit or loans if you need the money or if you don’t want to use your personal money. If you have a good buisness plan then getting loan or credit shouldn’t matter too much because you will be making profit from the money you put in. If you use your personal money then yes it’s better because you won’t have to pay interest but your also using your own money and can only buy so much stuff. Loans are just more scalable than using all ur own money.