Start-up entrepreneurs need to apply for commercial loans and line of credit for obvious reasons. They meet this money to get their businesses off the ground and meet their operating expenses. Using their own funds through bootstrapping doesn’t get them very far. However, financial experts in America say recent research in this area reveals a very disturbing statistic. Most businesses become bankrupt in a few years of commencing their operations. The owners of these establishments experience severe cash crunch because they can’t repay their ever-increasing debts. These proprietors certainly don’t want to go through this phrase. This is where debt consolidation can help them out.
Arnon Dror Creo Americas – Is debt consolidation worthwhile for start-up entrepreneurs?
Arnon Dror is a prominent name in the world of international business and finance. This MBA graduate from Hebrew University has 2 decades of experience under his belt. People who know him say he is a hands-on executive who can achieve amazing results. He has the distinction of discharging the office of Vice President in a number of companies. Scitex, Creo Inc., Kodak, Creo Americas and Xerox are just some of these organizations. In fact, these individuals clarify he is responsible for turning these concerns into profit-making entities. This impressive track-record in the area of internal reconstruction is a testament to this fact. They even regard him to be an expert in many diverse fields. These include strategic planning, internal control, cash flow management, ERP integration, business negotiation, corporate merger, and international taxation.
The Arnon Dror Creo Americas team of professionals say it isn’t uncommon for entrepreneurs to accumulate debt. They need to take out commercial loans and convenient lines of credit to finance their businesses. However, they need to generate enough revenues from their assets to repay what they owe. Otherwise, it won’t take these proprietors very long to run into financial trouble. In the worst-case scenario, they may have to file for bankruptcy. Taking this step can ruin their reputation in the market. Fortunately, these businessmen have an option open to them. They can apply for debt consolidation loans from a reliable service provider.
The specialists state the following 2 important reasons why entrepreneurs should take this course of action:
- The single monthly repayment scheme
Most entrepreneurs have a difficult time remembering the due dates of their multiple loans. This is the primary reason why they default on their repayments. Under debt consolidation, they are able to combine such debts into one. Under the agreement with their service provider and lenders, they pay single repayment every month. This makes it easier for them to get their finances back in order.
- Low-interest rate
Loans fall under the debt consolidation category carry a lower rate of interest than other similar schemes. This is a boon for entrepreneurs with accumulating debts. They can pay off all their outstanding dues in no time. In the process, they also save a lot of money.
Debt consolidation can work wonders for entrepreneurs with accumulating debts. They can get the finances in order within a short period. These proprietors come to know more about this aspect the browsing the Arnon Dror Twitter profile on the internet. They just need to look at the above 2 important reasons. It won’t take them long to know it is the right decision to take.