Therapist Practice in a Box Tip #14 Line of Credit. In every business there comes a time when cash flow is deficient. At times the business can wait it out then other times those due bills must be paid right now. An example of due now bills are for rent, taxes or employee salary. When cash flow is tight what often ends up happening is the business owner pulls money from their personal account to cover the business. However, a line of credit can be used to cover those expenses and it often costs much less. Credit cards are also much more expensive than a line of credit. Lines of credit are not to be use for anything other than emergencies.
For more information on this and other private practice tips please see my website therapistbox.com or my other videos.