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Chris Hoffmann - Building Scale in Home Services - Ep.167
Think Like an Owner
How to Get Quick Access to Debt
The way I would recommend to small business operators is you want to ask for credit facilities when you don't need them. So we put in as big of a facility as our bank will give us, and then we tend not to use it very heavily. We sweep excess cash out of our organization every month, but then we kind of hover around zero on that line of credit. Plus or minus a couple million bucks up and down on that line,. But we don't like to tap or get anywhere near full utilization on that line.
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