Tuesday, September 30, 2008

Credit Cards...

Isn't it interesting where people are looking for loans now. Like the article lays out this way of financing your business seems very risky to me.
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1 comment:

Rodger W said...

30% is crazy. I can't see any business being profitable at that rate. I was at an invention to venture meeting some time ago. They had a speaker that leveraged his house and had a total of 100's of credit cards. All the cards were pre-check so you could easily accure 100k worth of financing (all were 1980's) he didn't suggest it but went around and dropped hundreds of cards on all the tables to show you. I was amazed and he was profitable and sold out. He mentioned that its good in the short run "net 30" if you need a few things but not in the long run.

October 1, 2008 at 2:55 PM

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