At most banks, for $150 a year you can open up a business line of credit up to $100,000 without providing financials. All you need is a personal guarantee and good personal credit.
Then, you have $100k sitting for you for whenever you need it.
When you need it, you only pay interest on the amount you take out.
Interest rates are around 7% -- depends on the industry risk and your personal credit score.
Payback is 2% of the outstanding balance per month.
Talk to your local business banker. Line up the capital before you need it. Get ready to scale.
*Warning* Only take on debt when you know you can easily pay it back or need it for a "no-brainer". An example of this would be having customers lined up for your product/service and just taking on debt to service the order.
Then, you have $100k sitting for you for whenever you need it.
When you need it, you only pay interest on the amount you take out.
Interest rates are around 7% -- depends on the industry risk and your personal credit score.
Payback is 2% of the outstanding balance per month.
Talk to your local business banker. Line up the capital before you need it. Get ready to scale.
*Warning* Only take on debt when you know you can easily pay it back or need it for a "no-brainer". An example of this would be having customers lined up for your product/service and just taking on debt to service the order.
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