The amount of credit you can receive will vary, depending on your bank's criteria and your business. The interest rate will usually float, and you'll pay interest only on your outstanding loan balance. To qualify, you'll need to show your banker that you have a well-managed business, positive cash flow and good credit. Other bank credit options You might also consider applying for a home equity loan from your bank. The equity in your home can be an excellent financial resource.
Interest rates are attractive, and the interest is usually tax-deductible.
Loans against your accounts receivable are another option. In short, you pledge your uncollected monies or receivables as collateral, and the loan is repaid within a specific short-term period as your receivables are collected. Of course, there is the traditional term loan, in which you borrow a specific amount of money that will need to be repaid in a certain time period along with interest. Look inside your company You can do a lot to raise cash or generate working capital within your own company. For example, strive to accelerate your collections.