Home – New Forums Money matters Getting a startup loan…..asking for the moolah Reply To: Getting a startup loan…..asking for the moolah

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Why would you not take the credit card at 15% p.a?

If you think Angel investors will require less your mistaken.

Not only will they ask for a big chunck of your profit they will also take some control over your business….ie become a bord member……however sometimes this can be good as they will also provide you with guidance.

Personally if you belive in your business model take the 15% cc.

This works out to $625 month interst only until you get revenue comning in and can knock the card down.

The other advantage if used wisely is you can reuse the cc over and over again without having to gain approval each time…….can be good for a new bsuiness……but again if used correctly.

Without any security to offer a lender or private angel I would consider the cc as a good option.

Good luck.