It was a gamble," says Jill Duval of her decision to finance Duval Publications with credit cards. "But if that's your only option, that's what you have to do."
More than 50 percent of women use personal resources, including credit cards, to start their businesses, says Betsy Myers, White House director for women's initiatives and outreach.
Duval, whose Albuquerque, New Mexico, firm publishes magazines and business directories, has since paid off many of her cards, but she emphasizes this financing method is risky business: "Make sure you can pay it back so you don't ruin your credit."
This article was originally published in the January 1996 print edition of Entrepreneur with the headline: Women & Minority Entrepreneurs.
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