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Small Business

Managing Your Business

This Bale of Hay Almost Derailed a Ranch

Elkhorn Ranch has been in business since 1945, offering guests the chance to enjoy a relaxing and adventurous dude ranch vacation, in the perfect winter climate of southern Arizona. Guests are greeted by family hospitality, abundant wildlife and Sonoran vegetation, as they enjoy a pleasant stay.

But not too long ago, the Miller family, owners of the ranch, faced the opposite of that tranquility. A wildfire had raged through the ranch, destroying much of the critical winter pasture that was used for feeding those beloved horses.

The Miller family knew that with so many animals relying on this pasture, they needed to quickly replace all that was lost in the fire. Meanwhile, the price of hay was rapidly soaring due to a Texas drought. The Miller family had no choice. They simply had to purchase large amounts of hay, as well as a bigger tractor to help move it across the ranch.

With higher and unplanned costs and less revenue during the offseason, Elkhorn Ranch needed capital to address the fluctuating cash flow. Thankfully, the Miller family banks with Chase for Business. With Chase for Business' complete view of their finances, and a reserve credit line in the event of an emergency, they could consider a number of options to finance the tractor and hay. With the ability to view all of their finances in one place, the Miller family had the confidence they needed to pay for the unexpected and keep the ranch, and those horses, running.

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