I look at business credit cards like this. They are a great way to start the process of obtaining credit for your business and they are good for small purchases.
I know a lot of people use them as the sole means of financing their business. First let me tell you thats a really bad idea. There are many financial vehicles available these days to help you to obtain credit for your business. For instance:
- SBA Loans – govt backed loans. The most common are the SBA 7A & 504. They also have the 8A which is for minorities
- Equipment Leasing – these companies finance the purchase of equipment only. They have a variety of programs for businesses at all levels. So whether you are established or a startup or good or bad credit, they probably have a lease for you.
- Factoring & Purchase Order financing – I need to do some more research to find reputable companies, but basically these types of companies use your accts rcv or purchase orders to provide a form of secured financing.
A credit card should be used to pay merhants & vendors. Not used as the single form of financing for your business.
|
Pamela Williams is a Loan Consultant, Internet Marketer and Writer. For years she had helped consumers and business owners especially regarding business credit cards. This resource is dedicated particularly on business credit card reviews, articles, tips and advice, and online application so that consumers and business owners may compare which is the best business credit card for their business. Copyright 2010 |
