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I'm advising all my business clients to take any "available" advances against their lines of credit (ABL facilities) NOW to ensure that they have cash on hand to handle the next 45 days of cash requirements -- maybe more... whether they need it or not.
Oct 08 00:08 am
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All Comments by DaveMcBlues »Why You Should Keep an Eye on the Credit Markets [View article]
The interest cost is far less than the business interruption cost in the case that the banking system freezes and contractual advance provisions are not honored by the banks.
It's not much of a stretch to see that happening in the near term.
If anyone follows my advise, please make sure they also consider diversifying cash funds to make sure they are within protected (FIDC) limits on cash advances.