Looking for Of Agency Advice: Thoughts on loans and revolving lines of credit as a way to protect and grow your business. Preface It's common for businesses to take out loans and revolving lines of credit even when they do NOT need it. They get the money before they need it, because when they need it, there's a chance they won't be able to get it. Loans & credit provide a safety net of more cash on hand in the event of a a rough period, and provide opportunity when everybody is having a bad time - acquire businesses. Issue No matter what I say, my partner does not want to get either. At one point I brought up unforeseeable events and he said, "Like what? " I reiterated "unforeseeable" but he defaulted to "I'm not doing, we don't need it, unless you can think of a scenario where we do. " Question: What are some scenarios when you would wish you had already had a loan or line of credit for your business?
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