Originally Posted by POPO4995
I want to do some debt consolidation and wondering what avenue would be the best to go down, business loan or business line of credit? Another question I have is can you consolidate vehicle loans into either or do you have to keep them seperate? Any insight to either one or both would be appreciated. I'm going to start calling banks to talk to them but I figured this would be a good place to start! Thanks for any input guys!
Line of credit is used as a bridge during busy times - large payrolls due to the busy season but you haven't collected A/R yet would be an example. Banks like to see a loc at a zero balance at least once a year.
If you have enough equity in the vehicles and good credit it should be no problem to consolidate.