PSA in entirely personal capacity: if you are a small business with a credit line and you think you may need it, you may want to draw in advance of need to maintain optionality. Some lenders are actively reducing their books due to the perception that credit quality is impaired.
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Replying to @patio11
Would this advice extend on a person level to, say, a HELOC?
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Replying to @zrail
HELOCs are funded via a different mechanism than alternate lenders and the credit market for them has different constraints, but broadly, there is a reason “cash is king” gets repeated in books written by wizened old hands who have worked through many economic environments.
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On the same topic, have you ever written about 15 versus 30-year mortgages? I've found that the short-term people value not having debt above anything else, even if it's the opposite of "cash is King".
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I haven't. I try to generally stay away from personal finance topics except insofar as they're relevant to my weird hobbies and/or those places where the standard advice is materially inaccurate for software people.
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