Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What questions should a business ask its bank to make sure its plan is financially strong?

0
Posted

What questions should a business ask its bank to make sure its plan is financially strong?

0

They should ask, ‘How do I work it out so that I have at least six months reserve either in credit line or cash or continuation insurance to provide for working capital for the company if there were a catastrophe?’ The reason for the reserve is to take advantage of steep discounts on merchandise that a business can buy when another company goes out of business or is seeking cash and they let go of inventory for very low prices. A business could save up to 75 percent on the purchase price of inventory if they have the cash to act quickly.

Related Questions

Thanksgiving questions

*Sadly, we had to bring back ads too. Hopefully more targeted.