Line of Credit, Credit Card, or Loan...

[BeemerBMW]

I was just wondering if there was a line of credit, credit card, or loan that I could delay payment on until 12 months from first using it.

I would like to get the business up and running well and just save each month what I'm going to need to pay back in 12 months. Instead of having to worry about paying monthly on a line of credit or loan or credit card and having to balance buying parts and other business bills.

Any such thing?

[radreality]

if you can't afford a monthly payment, then no one will give you anything in the first place.

The only type of delayed payment credit options that I know of have to do with construction loans; but you have to have some major assets to back it up.

I would suggest figure out someway to get your business to make money without needing funding, then after you have revenue history get a loan/line of credit to expand your business.

Plus, what if you can't get the business running "well" in the grace period? You would be putting your business credit/assets and personal credit/assets at risk. You have to take some risks in business, but you also need to minimize the risks at the same time.

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Robert Falk
Business Developer / Investor
Self Help & Success Forum

[BeemerBMW]

I can't predict the future. I was just wondering if this was an option.

I believe I will make enough to pay back what I use each month, but it's retail, so I'm not sure.

[radreality]

with business its hard to get any type of funding without some sort of revenue history.

The easiest thing to get is credit cards, then a line of credit, then actual loans. But it also depends on the type of business, it varies slightly depending on the industry.

______________________________
Robert Falk
Business Developer / Investor
Self Help & Success Forum

[jayk]

there are loans that give you a 6 months payment break, you will need a good credit rating though.