Charging Ahead

Topics:
Commercial Banking,
Commercial Lending,
Venture Capital
Tags:
Americans,
Survey,
Sales Channel,
Sales,
Marketing Research,
Marketing,
Mansueto Ventures,
Financing Startups,
Financial Services,
Finance,
...
Source:
Mansueto Ventures

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Overview: Americans are often said to be addicted to plastic, and that's especially true for entrepreneurs. About half of all small businesses finance their formation or expansion with credit cards, according to a survey by the National Small Business Association and Arthur Andersen. The same survey showed that only 6% were financed with an SBA loan, and just 2% received venture capital funding. Of course, for all their convenience, credit cards are also extremely risky. Interest rates can be exorbitant, and there are numerous penalties for those who fail to make their payments.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: HTML | Date: Jan 2004

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