Amount: $500 - $20k
Interest Rate: 10%+
Time to funding: 1 day+
Rates will vary according to personal credit score. High personal credit scores unlock lower rates.
Some fees may apply upon opening an account or late payments
Business credit cards are often overlooked but are the simplest and most readily available form of business financing.
Business credit cards are particularly important for early stage businesses that do not have a long operating history. Until you’re in business for at least 6 months, most lenders will be unable to assess your creditworthiness to a degree that would make them comfortable providing you with a loan. Once your operating history is 6 months or more, you'll gain access to longer term forms of financing.
Even if your business is generating enough revenue to support itself, using credit cards to build credit history and improve your credit score will also open up more and better financing options.