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    2 Replies Latest reply on Feb 27, 2008 9:36 AM by LUCKIEST

    What can a small company like mine do...

    jayman8117 Wayfarer
      if we get a Purchase Order, but we do not have the cash to purchase the items we sold, I don't think we can get a line of credit at our Bank. I think there are some companies that finance PO's, I don't know of any.
      Thanks for your help.
      Regards,
      Jay
        • Re: What can a small company like mine do...
          Lighthouse24 Ranger

          If you have a business credit card, you might ask the issuer to increase your credit limit or offer you a short-term line of credit to meet your needs. (One of the reasons I'm a loyal American Express business customer is because that they've done that for me in similar instances.)

          Another option is to approach your supplier(s). If your accounts are in good standing and they understand the nature of your business, they may give you the terms you need (after all, they're presumably making a larger sale, too).

          As for using your customer's PO to secure a loan, there are many private lenders in this community who will no doubt be able to answer that for you. I hope this helps. Best wishes.
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          • Re: What can a small company like mine do...
            LUCKIEST Guide
            8117, Jay tell us more. How long have you been in business?? Do you have an Accountant??
            Lighthouse had great suggestions. Do you have a Business Plan??
            Do you know about SCORE??
            Good luck, LUCKIEST
            1 of 1 people found this helpful