This edition of CapitalEyes from Bank of America Business Capital offers businesses five tips on How to Navigate the Current Credit Cycle. I've written about most of them in the past, but it should be pretty obvious which one of the tips I like reading the most.- Provide your lenders with all the information they need to understand your business and be your advocate in front of their senior management.
- Keep up with both market conditions and local conditions.
- Seek the advice of a well-informed and active credit arranger.
- Especially when times are tough, it's about relationship - make sure you've got a good relationship with your lender.
- Manage your liquidity and collect your cash.
It doesn't matter if your business is small, medium or large, these are five tips worth thinking about as the credit cycle changes. Especially the third one.
Need help finding the right lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call!
Related Tags: Tags : Bank of America , Capital Eyes , business loans , credit cycle
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