--- title: Three Steps to Bridging the Small Business Cash Flow Gap description: As a small business owner, it's essential to have a positive cash flow to keep your business running smoothly. image: https://blog.excitecu.org/hubfs/bridging%20the%20cash%20flow%20square.jpg --- Quick Links - [Apply for a Loan](https://app.loanspq.com/apply.aspx?lenderref=alliancecu072715&list=VLPLCCHECBST&__hstc=252540758.bfd648fb4d85804455d19f67175cec20.1607694245454.1614070041557.1614072156284.12&__hssc=252540758.1.1614072156284&__hsfp=1927552622&_ga=2.9158332.885728407.1614017764-121813073.1607694182) - [Become a Member](https://app.loanspq.com/apply.aspx?enc=Kw21Wblm1yxpjJabdoZaD0RL3d1qFbsgl3hCp93n027H1L7KzQZRI2Db4r0gTGgxv49ElHWJLJGUTrsAFeKZSpF43nMHP5vg6uO7xTE5xO8&_ga=2.1016631.788664191.1587659479-1211589023.1585243269&__hstc=252540758.bfd648fb4d85804455d19f67175cec20.1607694245454.1614070041557.1614072156284.12&__hssc=252540758.1.1614072156284&__hsfp=1927552622) - [Make a Payment](https://excitecu.org/payment-options) - 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[Make a Payment](https://www.excitecu.org/Payment-Options) - [Make an Appointment](https://apps.excitecu.org/appointments) # Three Steps to Bridging the Small Business Cash Flow Gap Posted by [Excite Credit Union](https://blog.excitecu.org/author/excite-credit-union) on Apr 5, 2023 3:09:21 PM ![bridging the cash flow banner (1)](https://blog.excitecu.org/hs-fs/hubfs/bridging%20the%20cash%20flow%20banner%20(1).jpg?width=616&height=234&name=bridging%20the%20cash%20flow%20banner%20(1).jpg) As a small business owner, it's essential to have a positive cash flow to keep your business running smoothly. But with the various challenges that come with owning a business, such as seasonality, growth, payroll, and employee/customer retention, it can be difficult to maintain a healthy cash flow. That's why it's important to have strategies in place to bridge any gaps that may occur. At Excite Credit Union we have put together some things to keep in mind when operating your business and maintaining that healthy cash flow. 1.  Build up cash reserves: Every business goes through ups and downs, and having a cash reserve can provide a buffer during slow periods. It's a good idea to aim for six months of operating expenses in your reserve account. This way, you'll have the financial flexibility to make necessary purchases, such as new equipment or software updates, without stressing about finding the funds. 2.  Utilize your financial institution for business credit: In addition to having cash reserves, it's a good idea to have a backup plan in case of unexpected expenses. Many financial institutions offer lending solutions specifically for businesses, such as business lines of credit and business credit cards. These options allow you to borrow only what you need and pay interest only on the portion you use, while still keeping your cash reserve intact. For larger purchases, such as vehicles or equipment, you may want to consider a business loan. It's best to have one or more of these options in place before you need them. 3.  Keep track of payables and receivables: Staying on top of your invoices and overdue payments is crucial for maintaining a healthy cash flow. Investing in accounting platforms, such as Quicken or QuickBooks, can help you track your finances and ensure that you're getting paid in a timely manner. This is especially important if you don't have a CFO or financial officer on staff. By following these tips, you can help keep your small business's cash flow on track and focus on growing and thriving. If you're looking for a financial institution that can support your small business's cash flow needs, consider Excite Credit Union. Our team of business advisors is dedicated to helping small business owners succeed and can offer guidance on the best [lending solutions](https://excitecu.org/business/solutions/business-lending) for your business.    Topics: [Talking About Money](https://blog.excitecu.org/topic/talking-about-money?hsLang=en), [Business Services](https://blog.excitecu.org/topic/business-services?hsLang=en) ### Posts by Topic - [Talking About Money (49)](https://blog.excitecu.org/tag/talking-about-money) - [Savings (26)](https://blog.excitecu.org/tag/savings) - [Budgeting (22)](https://blog.excitecu.org/tag/budgeting) - [Building Credit (12)](https://blog.excitecu.org/tag/building-credit) - [Auto (10)](https://blog.excitecu.org/tag/auto) - [Credit Unions are Different than Banks (6)](https://blog.excitecu.org/tag/credit-unions-are-different-than-banks) - [Security (6)](https://blog.excitecu.org/tag/security) - [Business Services (5)](https://blog.excitecu.org/tag/business-services) - [Parenting (5)](https://blog.excitecu.org/tag/parenting) - [Retirement (5)](https://blog.excitecu.org/tag/retirement) - [Small Business (5)](https://blog.excitecu.org/tag/small-business) - [Credit Cards (4)](https://blog.excitecu.org/tag/credit-cards) - [Emergency (4)](https://blog.excitecu.org/tag/emergency) - [Real Estate (4)](https://blog.excitecu.org/tag/real-estate) - [Taxes (4)](https://blog.excitecu.org/tag/taxes) - [Community Engagement (2)](https://blog.excitecu.org/tag/community-engagement) - [Home Improvement (1)](https://blog.excitecu.org/tag/home-improvement) - [Insurance (1)](https://blog.excitecu.org/tag/insurance) - [Student Loans (1)](https://blog.excitecu.org/tag/student-loans) see all ### About Excite - [About Us](https://excitecu.org/in-the-community/about-us/locations) - [Careers](https://excitecu.org/in-the-community/about-us/careers) - [Community](https://excitecu.org/in-the-community/community/excitecares) - [Legal](https://www.excitecu.org/Legal) - [**Phone: 800.232.8669**](tel:8002328669) - **Routing: 321176804** - **NMLS #477592** ### Resources - [Forms](https://www.excitecu.org/Learn/About-Us/Forms) - [Order Checks](https://www.deluxe.com/products-services/financial-checks-retail-linking.jsp) - [Opt Out](https://newapps.excitecu.org/MemberOptOuts/OptOutHome) - [Sitemap](https://www.excitecu.org/Sitemap) - [Privacy](https://excitecu.org/in-the-community/about-us/privacy) - [Make a Payment](https://www.excitecu.org/Payment-Options) - [Homeowner Hardship Assistance](https://www.excitecu.org/Personal/Borrow/Home-Loans/Home-Loan-Hardship-Assistance) ### Follow Us | [![Download on the App Store](https://www.excitecu.org/Content/Images/mobile-app-apple.png)](https://apps.apple.com/us/app/excite-mobile-banking/id441879558) | [![Get it on Google Play](https://www.excitecu.org/Content/Images/mobile-app-google.png)](https://play.google.com/store/apps/details?id=com.ifs.banking.fiid5230) | | --- | --- | Equal Housing Opportunity Federally Insured by NCUA © 2021 **Excite Credit Union**. 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