Line of Credit? (was Re: A sticky contractor situation)

Subject: Line of Credit? (was Re: A sticky contractor situation)
From: Tom Murrell <trmurrell -at- yahoo -dot- com>
To: "TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Mon, 14 Jul 2003 05:54:16 -0700 (PDT)


FWIW, I think Chuck is getting good advice about his situation.

The situation he described and the responses I've read so far, did
spark a question in my mind. I've been in a contract situation such as
Chuck described, though I never had a payment problem, thank the gods.
Given the advice to treat it like a business, because it is, I wondered
if it would be wise to establish a commercial line of credit as
businesses do to protect yourself against the occasional cash flow
crunch?

It sounds like a good idea (to me, anyway), but then I wonder if anyone
has tried it as a solitary freelance, and if it is doable. Would a
reputable financial institution do that with someone who is just
starting out? Is it even cost-effective?

Anybody have any experience with this idea? If so, would you share the
good, the bad, and the ugly about it?

=====
Tom Murrell
--Don't argue with an idiot. People watching may not be able to tell the difference. (Anonymous)--
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@ Last Updated 05/26/2003
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