To illustrate this situation, we will discuss the actual story of a small automotive repair and towing business. The business had a regional towing contract with AAA Auto Club, which gave the business top priority on all service calls.
A common concern with business loans is covenant compliance. Does my business loan have covenants? If so, what are the compliance requirements? Smaller loans under $100,000 may not require collateral and are usually free of any covenants. As businesses grow, however, so do their financing needs.
It looks like COVID-19 issues will continue to affect business for the foreseeable future. In our previous column, we introduced a cash-flow management tool. We hope you were able to download the tool and instructions.
Check out the April 2021 issue of FORGE, featuring our cover story on the "Ovako's Vacuum Degassing Process Improves Forging-Steel Grades", "Back to the Future: Revisiting AM Predictions from 2012", "Viral Marketing during COVID-19", and much more.