4 Reasons a Small Business Should Avoid Borrowing

KRIS HENRY | March 3, 2019

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As a small business owner, you understand there are times when cash is short. Loans are available, but many owners don’t know when the appropriate time is to apply for one. And some businesses shy away from borrowing, thinking they don’t qualify when there actually are plenty of opportunities. Other businesses are quick to apply for loans for the wrong reasons or at the wrong time. In all situations, it is important to understand there are good reasons to take out a loan and then there are bad and even worse reasons to do so. A business has tiny margins. A healthy bank account balance offers a sense of comfort and a loan can give your business a ready amount of cash, an enticing prospect for most business owners. But, loans are an additional cost that you must repay, and that includes the interest.

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