Navigating Tax Season as a Small Business Owner How a Line of Credit Can Help

Tax season. For some, it’s that time of year to look forward to receiving a sort of cash windfall. Yet for others, it’s a time of dread and anxiety. If you’re a small business owner and the thought of paying your taxes this year is causing near panic attacks, read on to learn how you and your business can finally experience a no-sweat tax season.

Much like a credit card company, the Internal Revenue Service (IRS) will most certainly charge you interest on the amount of taxes you owe if your bill isn’t paid in full by the due date, which is April 15th.?According to the IRS, “If you do not pay your taxes by the tax deadline, you normally will face a failure-to-pay penalty of ? of 1 percent of your unpaid taxes. That penalty applies for each month or part of a month after the due date and starts accruing the day after the tax-filing due date.”

If this situation sounds less than ideal, that’s because it is. It’s in your business’s best interests if you don’t owe the government any money, which is where a?line of credit?can be an incredible (and incredibly smart) solution. When you opt to partner with us at Bigglone, you get a dedicated loan consultant with immeasurable experience working with small businesses in your area. And applying? That’s as easy as heading over to our website for a?free, no-risk quote?that won’t affect your credit score.

When you’re equipped with a line of credit, you can draw from it not only to pay your tax bills, but to make improvements to your business, upgrade your equipment, or hire additional staff—if you want. Our rates are guaranteed, our terms are fixed, and our payments are affordable. And best of all, you won’t be a proverbial hostage to the IRS.

Wondering how to qualify? We’ll look at a number of factors, including how long your business has been operating, your checking or savings accounts, the amount you wish to borrow, and your annual sales. Once approved for a line of credit, you’ll get 24-hour access to 5 separate loan drafts over a 6-month period. The interest is tax deductible, and your rate is locked in for 6 months.

Taking out a loan can be a scary thought, but we have trusted lending experts for nearly two decades. We’ve delivered over $890,000,000 in funding to small businesses like yours over the years. And our loan consultants are seasoned professionals who can be as available or hands-off as you need throughout the process.

At Bigglone we always like to say that the most successful business owners are the most nimble, and a business line of credit.?

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