Starting a business is a daunting feat. Not only do you need a great idea and a solid business plan, but you’ll need to gather the funds to get your organization off the ground.
Many business credit cards offer an introductory 0% APR for a year or longer, providing some flexibility to pay down startup costs over time before the high rate kicks in.
Many personal credit cards offer even longer introductory APR periods than business cards.
Leveraging personal or family assets to start your business falls into the equity side of funding rather than debt, so you won’t have to worry about interest charges.
If you can qualify for one of these loans, odds are you’ll be able to secure more money at a much lower interest rate than you would with a business credit card.
You’re using existing equity to launch a business rather than taking on debt, so you won’t owe interest or have to stress about repayment.
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