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Stagnant growth. Missed opportunities. Reduced workforce. These are just three symptoms of a company that lacks access to credit. No matter how successful your business is, you likely have higher aspirations for it. And obtaining more credit and bolstering cash flow is at the center of your ability to innovate, expand, and reach new customers.
So what can you do when you can’t obtain credit? Or what happens when you can’t obtain the credit you need when you need it, and as often as you need it? Let’s examine what makes this a unique problem today and one solution to look for to support the business growth you desire.
Companies of any size or industry may be impacted by lack of credit. Those in need of credit often don’t have the cash on hand, so small businesses may be more dependent on credit lines (and may have the most difficulty securing a credit line) than larger businesses. Some common characteristics of companies that might struggle to obtain a credit line are:
Credit is always top of mind for CFOs, finance directors, and anyone intimately involved with a company’s financials. Revenue, expenses, and securing cash flow are three pillars of any finance professional’s job. Today’s atmosphere for securing credit is unique for a few reasons:
In light of today’s unique credit challenges, here is a question to ask as you evaluate payment providers that can help you achieve your business goals.
Some do. But not all. WEX offers both corporate-liability credit lines and incentives in the form of virtual card rebates.
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The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.
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