http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/ Designed to help entrepreneurs understand the world of investing and how to best finance their ventures. Sat, 21 Nov 2009 06:07:36 -0800 http://wordpress.org/?v=2.8.4 hourly 1 http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/comment-page-1/#comment-45929 Joshua Steimle Sat, 19 Apr 2008 00:28:50 +0000 http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/#comment-45929 Or you could avoid debt like the plague so you don't end up stuck with $170K in SBA loans with your house as collateral, $15K in equipment leases, and $60K on personal credit cards. And that's only half of it. Fortunately I've managed to pay most of that off by paying $10-15K in debt payments per month for the past few years, but having used just about every sort of debt financing known to man I will never use debt to finance a business again--EVER. Remember, debt disappears as fast as you have expenses, but is paid off only as fast as you have profits. Or you could avoid debt like the plague so you don’t end up stuck with $170K in SBA loans with your house as collateral, $15K in equipment leases, and $60K on personal credit cards. And that’s only half of it. Fortunately I’ve managed to pay most of that off by paying $10-15K in debt payments per month for the past few years, but having used just about every sort of debt financing known to man I will never use debt to finance a business again–EVER. Remember, debt disappears as fast as you have expenses, but is paid off only as fast as you have profits.

]]> http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/comment-page-1/#comment-45922 RandRFinance Fri, 18 Apr 2008 23:00:38 +0000 http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/#comment-45922 Rather than using credit cards, can't you use Unsecured Lines of Credit, to finance your business. You can get unsecured lines of credit for up to $150K and unlike credit cards there will be no personal liability on you. Rather than using credit cards, can’t you use Unsecured Lines of Credit, to finance your business. You can get unsecured lines of credit for up to $150K and unlike credit cards there will be no personal liability on you.

]]> http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/comment-page-1/#comment-45690 CK Woods Sun, 13 Apr 2008 04:11:39 +0000 http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/#comment-45690 Another effective option is for the founders to learn as many skills as possible to keep cash in hand. It's definitely slower, but can have rewards over the long term. Another effective option is for the founders to learn as many skills as possible to keep cash in hand. It’s definitely slower, but can have rewards over the long term.

]]> http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/comment-page-1/#comment-45658 Chuck Wobby Fri, 11 Apr 2008 13:18:44 +0000 http://www.fundinguniverse.com/blog/2008/04/05/allowing-others-to-finance-your-business/#comment-45658 Another way of establishing good credit is to go to a bank and guarantee a small line of credit, using it to pay debts rather than your own cash. For example, set $1000 in a seperate account and use it to guarantee a line of credit. Draw on the line to pay invoices and pay back the line within terms. While you are charged interest, the rates are low enough that its a relatively cheap way to "buy" good credit Another way of establishing good credit is to go to a bank and guarantee a small line of credit, using it to pay debts rather than your own cash. For example, set $1000 in a seperate account and use it to guarantee a line of credit. Draw on the line to pay invoices and pay back the line within terms. While you are charged interest, the rates are low enough that its a relatively cheap way to “buy” good credit

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