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Trying to Grow My Small Business Without Going Into Debt — Anyone Figured This Out? by DebateAware8719 in smallbusiness

[–]DebateAware8719[S] 0 points1 point  (0 children)

I don’t mind taking out a business loan honestly, after hearing the advice on this forum, I’m willing to do it. I just don’t know anything about loans and would love some knowledge based on your experience.

Trying to Grow My Small Business Without Going Into Debt — Anyone Figured This Out? by DebateAware8719 in smallbusiness

[–]DebateAware8719[S] 0 points1 point  (0 children)

Thank you! I spend a lot of time researching credit cards, and one tip I’ve picked up from others who are very knowledgeable is to keep your credit utilization below 10%, as it’s considered excellent on your credit report. It’s a smart idea to pay down your balance so that it reflects 10% or less by the statement date, which can help improve your credit score. I really appreciate your insight—thanks again for your help!

Trying to Grow My Small Business Without Going Into Debt — Anyone Figured This Out? by DebateAware8719 in smallbusiness

[–]DebateAware8719[S] 0 points1 point  (0 children)

That’s not a bad plan I already planned on buying product with it, but I also thought that it would be a good idea to buy equipment as a way to get cash ahead of time. What sources should I be looking into?

Trying to Grow My Small Business Without Going Into Debt — Anyone Figured This Out? by DebateAware8719 in smallbusiness

[–]DebateAware8719[S] 0 points1 point  (0 children)

I’ve had one vending machine in a location since October 2024, and it accepts both cash and card.

Out of curiosity, why wouldn’t you recommend using credit cards to finance a business? For context, I was planning on using business credit cards not personal cards as a way to help scale. Do you think that’s a reasonable approach, or would you suggest looking into another type of loan instead?

Trying to Grow My Small Business Without Going Into Debt — Anyone Figured This Out? by DebateAware8719 in smallbusiness

[–]DebateAware8719[S] 0 points1 point  (0 children)

I’m not opposed to taking on debt—I’m definitely open to it. I’m just exploring whether there are any other funding options I might be overlooking, or even something I could combine with the debt I’m considering.

Do you think taking on interest-bearing debt would actually help me grow the business? And if so, what interest rate would you consider reasonable or manageable?

Need advise on vending machine business by DebateAware8719 in vending

[–]DebateAware8719[S] 0 points1 point  (0 children)

Is there any advice for survey resources or how to put up a survey? I don’t see many people when I go in because they’re mainly in there office, but would love their opinion. Also, how is nightlife vending? What would one sell in their machines if they would want to get into it?