Whether you’re just starting your business or have been at it for a while, there is going to come a time when you need some cash. When it comes to financing a business, some people opt to go the business loan route, while other business owners take another path. This may be using credit cards.
If you’re unsure whether it’s for you, we’re going to break it down for you. We’re also going to take a look at a well-known company that got its start with the power of plastic.
Using the Power of Credit Cards to Fund Your Business
When you want to know how to get a business loan, but don’t necessarily want to go through the loan process, you may look into your wallet at those credit cards calling your name. Although it may not be the conventional route, it could be the one that leads you to create the business of your dreams.
If you’re a little hesitant, know that you wouldn’t be the first one to take charge of your business by using your credit cards. The owners of Airbnb, the company that lets you book non-conventional places to stay around the country, got its start when the owners decided to use their credit cards to pay for business expenses. They racked up $25,000 in debt as the company went through some highs and lows to get on the right track. But, once it did, Airbnb soared and is now a multi-billion dollar company.
While not all businesses reach Airbnb status, the point of the story is that you can have a successful business if you have to use your credit cards to light the fire. It’s what you do to keep the fire going that will determine your success.