Journey To $100 Million

We recently got a loan from the bank, and Erik is pretty excited about it. In episode 178 of The Journey to $100 Million Podcast, listen in as Erik explains our reasoning behind extending the line of credit for our business. We already had a line of credit for $25k, and rarely used it. We would borrow a thousand here and there, and pay it back very quickly - but did not necessarily need the line of credit. But, the point is that it’s always there if we need it, and every time we use this money and pay it back, we are building up credit. We recently got this credit line extended, which is the loan that Erik is speaking on. We now have a $75k line of credit. We are not tapping into it anymore than we have in the past, but it obviously gives us more padding in case we need it for certain situations. The main reasoning for getting a line of credit is for cash flow purposes. For instance, let’s say you do a bunch of work for a client and complete it before you can even invoice the client. A lot of companies inv