{"id":3956,"date":"2015-09-18T21:31:37","date_gmt":"2015-09-18T21:31:37","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=3956"},"modified":"2021-02-24T16:46:17","modified_gmt":"2021-02-24T21:46:17","slug":"why-a-small-business-loan-is-better-than-taking-on-more-credit-card-debt","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/why-a-small-business-loan-is-better-than-taking-on-more-credit-card-debt\/","title":{"rendered":"Why a Small Business Loan is Better Than Credit Card Debt"},"content":{"rendered":"

According to the US Small Business Administration, 65 percent of all small businesses rely on credit cards<\/strong> for many of their purchases. <\/span><\/p>\n

A business credit card may be useful for covering daily expenses, but attempting to fund all of your business operations with credit can tie up important capital in a revolving cycle of debt payments. The next time your small business needs extra funds, consider the benefits of taking out a Working Capital business loan<\/a><\/strong>.<\/span><\/p>\n

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More Options<\/h2>\n

When you get a business credit card, you\u2019re limited to a handful of choices. Loans, on the other hand, can be obtained from a variety of lending institutions. You can go to a bank, a credit union, the Small Business Administration (SBA) or an alternative loan lender <\/a>to get the money you need. The SBA offers multiple loan programs to help businesses with specific requirements. Options include microloans for small purchases, loans for rural businesses and help for women-owned businesses.<\/span><\/p>\n

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It can take a while to obtain a loan through a bank, credit union or the SBA. If you need quick access to capital but you don’t want to expose yourself to the predatory practices of a merchant cash advance, consider a Working Capital loan<\/a> from ARF Financial.<\/p>\n

Flexibility<\/h2>\n

When you take out a business loan, you have two choices:<\/span><\/p>\n