by Robert A. Woods
Builders who have an open line of
credit at their bank sleep better at
night than builders who don't. A line
of credit means you don't have to
sweat bullets on the tenth of the
month when you can't pay your bills
because your clients haven't paid
theirs. With a line of credit, one call to
your bank and cash is automatically
transferred into your checking
account.
What Is a
Line of Credit?
A line of credit is simply a
specific amount of money the
bank has set aside with your
name on it. The money is
yours to use to run your business
as you see fit: You can
draw the full amount of the
line