Should You Take on Debt to Grow Your Business?

by / ⠀Funding Startup Advice / December 29, 2011

business debtDebt can be a scary thing especially in today’s economy. However, it is also crucial to growing and expanding any business. It can help you move forward faster and more efficiently than your competitors. You would find it difficult to find a small business owner who never took on any debt at any stage of the business whether it was a loan, credit cards or another method. Of course you just have to make sure to do it right and understand how to manage the debt.

Recently MSN Business on Main covered a few of the options you have when it comes to taking on debt as a small business owner. Make sure to know about every option you have as each person and situation has specific needs. Many business owner take on debt only to learn there was a better program or opportunity out there where they could have raised the money they needed.

1. SBA-backed loans

2. Asset-based lenders (ABLs)

3. Factors

4. Revenue-based financing

5. Microloans

Do you know about all of these options? If you’re not sure what some of them are check out the full article here for all the details.

This article is brought to you by MSN’s Business on Main

About The Author

Matt Wilson

Matt Wilson is Co-Founder of Under30Experiences, a travel company for young people ages 21-35. He is the original Co-founder of Under30CEO (Acquired 2016). Matt is the Host of the Live Different Podcast and has 50+ Five Star iTunes Ratings on Health, Fitness, Business and Travel. He brings a unique, uncensored approach to his interviews and writing. His work is published on, Forbes, Inc. Magazine, Huffington Post, Reuters, and many others. Matt hosts yoga and fitness retreats in his free time and buys all his food from an organic farm in the jungle of Costa Rica where he lives. He is a shareholder of the Green Bay Packers.