By Constance Brinkley-Badgett
If you’re like many small business owners, you’ve taken on some debt in order to cover the costs of starting or growing your business. According to the Federal Reserve’s latest figures in the 2016 Small Business Credit Survey, 64% of loan applicants sought funds for a new business opportunity or to expand an existing one.
Whether you applied for a small business loan, used business credit cards or even sought out investors, you needed that initial cash infusion to get your business off the ground or to the next level. But what happens with that debt should your business hit a slow period? (more…)