Short-term fix

Short-term fix

A line of credit allows carriers to tap into cash quickly

A huge challenge for many micro- and smaller trucking companies is getting cash flow to actually flow.  There are many financial tools available to assist this process; one is a bank line of credit.  But what exactly is it?  How will it facilitate cash flow for a trucking operation?

A line of credit is an arrangement between a financial institution, usually a bank, and a customer that establishes a maximum loan balance that the bank will permit the borrower to maintain.

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TAGS: News Equipment
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