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The Blessing & Curse of Starting a Business with Good Credit
Many business owners start their businesses with a lack of understanding of what their credit and borrowing options are. They don’t understand how they can (and can’t) borrow money. It’s often worse when the business owner has excellent credit and thinks that he or she has loan options that simply don’t exist. Then they fall into the trap of thousands of other business owners and they make bad decisions, obtain the wrong funding (or no funding), use their credit cards incorrectly, and make it difficult or impossible to get additional capital as they grow their business.
The solution is simple. Business owners who start their businesses with excellent credit need to understand what kind of loans and lines of credit are available to them. Since 80% of small business owners will use credit cards and credit cards will at least be part of their funding solution they must not make the common mistakes that most business owners make with their credit and credit cards.
When someone starts a business with excellent credit and avoids the common mistakes made by most business owners then they can obtain
business funding with no collateral, no financials, low rates, and – most importantly – they can protect and preserve their excellent credit. This makes it much easier to obtain things like SBA loans and unsecured lines of credit later after they’ve grown their business.
Download this free strategy guide now to learn the best way to maximize the use of your good credit when starting and running a business.