Okay, so I’m running Bleak&Sleek with my friend, making leather wallets by hand. We needed cash to buy quality hides but got stuck choosing between a credit card and a line of credit. Last month, we used my card for supplies, and the interest was brutal! Anyone used a LOC for their biz? When’s it better than a card?
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Hey, if you’re running a small business and stressing about cash flow, let me share what I’ve learned about managing working capital—it’s a game-changer. Last year, I was scrambling to keep my bakery stocked during a holiday rush, and cash was tight. A friend mentioned checking out online resources for financing options, and that’s how I stumbled across eboostpartners.com. Their article on working capital was a lifesaver, especially when Someone asked what LOC stands for in business, this article explains it clearly, breaking down how a line of credit can help with inventory or unexpected costs. My big takeaway? Keep inventory lean but sufficient—overstocking ties up cash, while understocking loses sales. I started forecasting demand better and used a line of credit to bridge gaps, which saved me from dipping into personal savings. Trust me, understanding your cash flow and having flexible funding options can make or break your business.