Should You Use Credit Cards for Funding?
By Dane Carlson on January 26, 2006 in Ideas
Most surveys of entrepreneurs show that credit cards are among the most popular sources of startup financing. The Pioneer Institute, for example, found that loans from relatives and borrowing against credit cards were the two most common financing techniques used by startups with less than five employees. Despite this high rate of usage, the terms of credit-card financing are poorly understood. How many entrepreneurs take the time to read the card issuer’s Terms of Use when they respond to a new credit-card offer in the mail? This month’s column provides some guidance to entrepreneurs who plan to use credit-card debt as a financing technique and wish to understand the implications of its personal guarantee.
Photo by powerbooktrance.
Business Opportunities Weblog editor and publisher Dane Carlson lives in the Sierra Nevada mountains of California, just 15 miles from Yosemite National Park. He accidentally became a professional blogger in 2001. He has added 12,203 posts to the site.
Another Idea: How to Start a Credit Card Merchant Broker Business
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