Another Entrepreneurship Project of the  Whitman School of Management at Syracuse University

Business Financing: Card it… or not?

            As an entrepreneur, how do you finance your business? Personal funds? Family and friends? Personal or business credit cards?

            In today’s economy, getting a business loan from financial institutions may appear uneasy. Moreover, the fear of being turned down often causes small business owners to turn to alternate sources of funding.

            A recent survey from PNC Financial Services unveils that a really high percentage of women business owners (59%) are using credit cards as primary source of business funding, and that a very high percentage of female entrepreneurs rely on personal or family savings for business expenses. According to BizFilings, these financial decisions may be risky, because credit cards do not offer the stability of a bank-issued business loan. Moreover, the credibility of a business sometimes depends on its incorporation, and a business loan usually makes the process easier.

            For more information about the advantages of business loans, please read the full story at: http://www.prweb.com/releases/2011/8/prweb8753625.htm

Also, please reply to this post, and let us know what funding method you prefer, and why!

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*