This is a subscriber-only article. Join Entrepreneur+ today for access

Learn More

Already have an account?

Sign in
Entrepreneur Plus - Short White
For Subscribers

What to Do When the Bank Pulls Your Line of Credit <em>Entrepreneur</em> takes a close look at who's lending and when the cost is too high.

By Julie Bennett

Opinions expressed by Entrepreneur contributors are their own.

What to Do When the Bank Pulls Your Line of Credit

Ryan Weber considered himself a prudent business owner. He borrowed $6,000 from family members to start Radiant Photography in Las Vegas, and he paid them back--with interest--in three years. To cut expenses, he rented a studio when he needed it, instead of building his own. And when Advanta, a credit card company in Spring House, Penn., offered a business credit card with a $7,500 line of credit, he accepted it.

"Having $7,500 in reserve really helped," Weber says. "In case a check didn't go through from a client, it was there to rent studio lights or pay my cell phone bill."

The rest of this article is locked.

Join Entrepreneur+ today for access.

Subscribe Now

Already have an account? Sign In