Entrepreneur Magazine Article...

The article in Entrepreneur magazine this month is interesting. They talk about what to do if your bank pulls your line of credit. Here's the link:

http://www.entrepreneur.com/magazine/entrepreneur/2010/february/204590.html

A couple interesting points. If you follow their suggestion about approaching a small, community bank or credit union then that's fine but just know that chances are that your line of credit will require both financials and collateral. Nothing wrong with that at all but these institutions don't normally offer these lines of credit without full financials and some collateral (such as a property with lots of equity in it).

It's also interesting if you see the example of the fees charged by the third party provider for the "unsecured lines of credit" - wow! I'm not mad at them and it's often still worth it even when the fees are that high but our fees are certainly not that high.

There's a lot of info in here so check it out.

And if you're looking for access to capital to start, build, or grow your small business then check out our website at hawkeyemgmt.com and see who we are and what we do.

Tom Gazaway CCEW, CMPS, XCO
Hawkeye Management
888-783-1503 toll free