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They can be a useful financial tool for small businesses, as they can provide a source of funds to cover operating costs or invest in growth. This can give borrowers peace of mind and confidence in their financial decisions. This can be done at an ATM, bank, or other location that offers cash advance services.
It's generally a good idea to keep your credit utilization below 30%. And if you live in a rural area, it can be hard to find a traditional lending place nearby.
More flexible repayment terms: Credit unions may be more willing to work with you to find a repayment schedule that fits your needs and budget. Check your credit report regularly: It's important to periodically review your credit report to make sure it's accurate and up-to-date. To avoid these pitfalls, it is important for borrowers to carefully manage their credit line and only borrow what they can afford to pay back.
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