5 Signs You Need a Bridging Loan ASAP
Late payment of supplier invoices When you don’t pay your supplier on time, they may claim interest and debt recovery costs from you. Whenever your business starts paying late for goods or a service, or always exceeds the 60-day period for business transactions, it may be time to look for the right financing. The supplier may charge an interest which could be up to 8% or more plus a base rate, or as stated in the contract. For example, if your business owes $1000 to Supplier X and the base rate is 0.5%, you may incur an annual interest of […]
