Although these options can help the business get up and running, high interest rates can ultimately cause strain and tie up much-needed cash flow. Instead of being able to invest earnings back into the business, owners are stuck paying interest on the debt. Often, interest payments are so large that the business becomes mired. With […]
It’s common for new businesses to borrow money to open their doors. Since they have little to no history to show their financial viability, many borrow using credit cards or other revolving or short-term debt.