What determintes business line of credit limit?
Sunday, July 13th, 2008marc p asked:
I am purchasing a small business that has been in existence for 1 and a half years. I am using an SBA loan for the purchase.
I am purchasing a small business that has been in existence for 1 and a half years. I am using an SBA loan for the purchase.
Referring to the future, how do they determine what my business line of credit will be? My companies net profits are 160k. (After debt payment it is around 110k). Formulas are welcome!