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Small Business Ideas Forum

Small Business Ideas Forum

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Old 10th October 2008, 09:02 AM   #1

Join Date: Oct 2008
Posts: 1
Default Using Business Credit Vs Personal Credit

Most new business owners think that in order to make a go of their business they have to invest every dime of their savings, borrow money from friends and relatives and essentially go broke in the process. I'm here to tell you that isn't the case.

If you are considering starting your own small business I would suggest looking into building strong business credit first. If you have the proper guidance and the time to invest it will save you many headaches in the future.

Just think about when 5 yrs from now you go to refinance your home or buy a new one, when they start the initial underwriting process they are going to see that you have way too much debt because you have invested all of your money and credit in your business. That can be avoided! You just have to build strong business credit and your business will stand separate from your personal credit.

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Old 17th November 2008, 04:46 AM   #2

Join Date: Nov 2008
Posts: 5
Default Building Business

That's right. You must come up with the financial security that you must have and ensure that you are well secured anything might happened.

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