Should You Take on Debt to Grow Your Business? : Under30CEO Should You Take on Debt to Grow Your Business? : Under30CEO
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Should You Take on Debt to Grow Your Business?

| December 29, 2011 | 6 Comments

business debtDebt can be a scary thing especially in today’s economy. However, it is also crucial to growing and expanding any business. It can help you move forward faster and more efficiently than your competitors. You would find it difficult to find a small business owner who never took on any debt at any stage of the business whether it was a loan, credit cards or another method. Of course you just have to make sure to do it right and understand how to manage the debt.

Recently MSN Business on Main covered a few of the options you have when it comes to taking on debt as a small business owner. Make sure to know about every option you have as each person and situation has specific needs. Many business owner take on debt only to learn there was a better program or opportunity out there where they could have raised the money they needed.

1. SBA-backed loans

2. Asset-based lenders (ABLs)

3. Factors

4. Revenue-based financing

5. Microloans

Do you know about all of these options? If you’re not sure what some of them are check out the full article here for all the details.

This article is brought to you by MSN’s Business on Main

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Category: Funding, Startup Advice

  • http://www.i95dev.com/ecommerce-magento Henry Louis

    Hi! Now I have gained lot of important points debt, loans and financing by reading this post. Thanks for sharing this information. Keep updating.

  • John Moran

    It’s great to see how debt can be matched to the situation – For instance, I really use credit cards to have “terms” on every larger purchase I make.  Depending on where in my billing cycle I am, it could be like having 60 day terms on any purchase – even from a Best Buy. 

    And then for longer term cash needs there are SBA loans and others mentioned above.  I am very excited to learn more about factoring.  It is something I have always heard about, but haven’t really learned in detail.

  • Guest

    One can leverage credit cards even further by using 0% introductory APR cards to get a free 12-18 month loan on $10,000. I’ve done this…and it’s dangerous, but extremely powerful at the same time.

  • Guest

    One can leverage credit cards even further by using 0% introductory APR
    cards to get a free 12-18 month loan on $10,000. I’ve done this…and
    it’s dangerous, but extremely powerful at the same time.

  • http://getbrode.com Marc Brodeur

    One can leverage credit cards even further by using 0% introductory APR 
    cards to get a free 12-18 month loan on $10,000. I’ve done this…and 
    it’s dangerous, but extremely powerful at the same time.

  • http://www.youtubemp3hq.com/ youtube to mp3 converter

    Tons of great information here for small business owners of all ages.