Rosalind Resnick is a New York-based freelance writer, entrepreneur, investor and author of The Vest Pocket Consultant's Secrets of Small Business Success.
Should I use loans or credit cards to fund my startup?
I'm almost a college graduate and am getting ready to open a coffee shop in my hometown, which only has a few coffee shops and all are overflowing. With the amount of student loans I have to pay back soon, I doubt any banks will give me a small business loan. With that being said, do you think it is wise to get a $10,000 credit card and equipment financing to open a 1,750 square foot coffee shop?