Line of Credit Landscaper Secures Line
Author: Valerie Mellema
Date posted: 02.20.23

Not everyone loves spending time out in the sunshine mowing lawns and creating gardens. However, some people find it’s their passion. One of those people was so excited about this kind of work that she chose to open a landscaping company. It was slow going at first but things began to pick up and the business was a success. Of course, as time goes on, there are always challenges for business owners. That’s what led this business owner to start looking into financing options.

Why Financing Was Required

 

As a company that was known in the neighborhood, things went well for a long while. However, as more people wanted to switch to the company, it became important to have the best equipment and employees to ensure the reputation of the brand stayed intact.

 

Older equipment and less skilled employees made many jobs take longer than they might with updated equipment. It was something that they worked with at first but over time, it was a huge issue. When new clients signed on for service, they didn’t want to let them down. What they needed was a solution.

 

The Cost to Update Equipment

 

The owner of the business decided that something had to be done. Being unable to take on new clients was a problem that was becoming more serious by the week. So, the owner chose to look into updating the equipment and what the costs would be.

 

Talking to others in the industry and doing some research gave the owner insight into how much money they might need to make some changes. In the end, she decided that $125,000 would be enough to totally upgrade, train new staff, and move forward with current and new clients.

How to Acquire the Money

 

Knowing the amount needed to spruce things up and move forward, the owner knew the next step would be to look into financing options. A traditional business loan wasn’t something she wanted, so she began looking for alternatives. She was surprised by how many options there were.

 

After considering the qualifications for several financing options, the owner narrowed things down to two financing choices. More research made her decide that her first choice would be a line of credit. It made sense for her needs and would be something that could be used in the future if other challenges came up.

 

Benefits of a Line of Credit

 

The limit on a line of credit is smaller than some alternative financing options but it was far more than enough for what the owner needed. In addition, funding is very quick at only one or two days. This was something important since the owner wanted to start making changes as soon as possible.

 

In addition, term lengths can vary with a line of credit, which was another bonus. However, what made it a great choice was the fact that once a line of credit is paid off, the money can be used again for whatever the business might need. It was a great way to ensure a bright future in any circumstances.

What Happened Afterward

 

Since the line of credit hit, they’ve been able to keep up with demand and update needed equipment. Instead of struggling to keep appointments as the customer base grows, the company now handles things with ease. This has allowed them to bring on more clients and be even more successful.

 

The great thing about a line of credit is that after paying it off, it’s available to be used again. The landscaping company can continue to use it the next time a little capital is needed to keep things running smoothly.

About The Author | Valerie Mellema

Valerie has over 16 years of experience as a professional writer of blogs, eBooks, articles and press releases, with a focus on finance and alternative lending. Valerie resides with her family in Texas and is passionate about her horses.

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