http://www.startupbizcast.com/2008/11/04/small-business-recommended-reading-11-4-08/ The Small Business Advice Podcast That\'s Shorter Than Your Coffee Break Wed, 23 Feb 2011 05:43:04 -0700 hourly 1 http://wordpress.org/?v=3.1 http://www.startupbizcast.com/2008/11/04/small-business-recommended-reading-11-4-08/#comment-6679 Kris Bovay Fri, 07 Nov 2008 06:39:17 +0000 http://www.startupbizcast.com/2008/11/04/small-business-recommended-reading-11-4-08/#comment-6679 The challenge for small business owners is to have a back up plan for your back up plan. One of my clients has a line of credit; it was reduced. He had an approved loan for a relatively small capital expenditure for his manufacturing plant. When the equipment was delivered, along with the invoice, the lender told him he didn't have the money at the moment (the lender has a long term relationship with the client - they just didn't have the money to cover all their needs). My client had to cover the cost by borrowing money from relatives. Not a good scenario. The challenge for small business owners is to have a back up plan for your back up plan. One of my clients has a line of credit; it was reduced. He had an approved loan for a relatively small capital expenditure for his manufacturing plant. When the equipment was delivered, along with the invoice, the lender told him he didn’t have the money at the moment (the lender has a long term relationship with the client – they just didn’t have the money to cover all their needs). My client had to cover the cost by borrowing money from relatives. Not a good scenario.

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