In this episode, we talk about:
The myths about financing, and thoughts about “good” and “bad” debt.
Our favorite credit cards and the difference between a line of credit and a credit card!
Resources + Links:
Check your credit score:
R.T.’s personal favorite credit card - United Explorer Card
Jim’s personal favorite credit card - The Apple Card
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Jess Burgio | @jessicaburgio
Jim Carter | @causehacker
R.T. Custer | @rtcuster
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Show Notes:
How would your business grow if you had more resources to invest in it? What would you do if you were able to get a business loan? There are so many creative ways to get financing for your business, and we’re here to talk about them! From sharing personal experiences, to general knowledge you can put into action for your own personal and business finances, we’re not holding anything back! We cover topics like the difference between a line of credit and a credit card, how to increase your credit score, benefits of credit stacking, and what our personal favorite credit cards are! Let us know if you have used any of these types of financing before, and if you had an A’ha moment during this episode!
02:15 Researching the best way to get short term financing!
04:00 What is the Federal Prime Rate in the United States right now?
07:00 R.T.’s experience with crowd funding!
10:15 What do I need in order to get a loan for my business?
16:00 What are different lines of credit? How are they different from credit cards?
19:20 Information your bank will need for you to open a line of credit.
22:15 Benefits of choosing a line of credit over a loan or credit card.
25:00 Why it’s best to work with a business relationship manager at your bank.
30:00 Do you think credit cards are a good financing option for business owners?
33:40 The credit cards R.T. recently opened for all 4 of his LLC’s.
36:15 The 5 ways your personal credit score is impacted.
44:00 How can I increase my credit score?
48:40 What options are there if you need cash quickly?
52:30 How to check your credit score!
54:00 Ways to turn your credit cards into CASH!
56:20 How Jim’s parents utilized credit stacking to get out of debt.
01:00:30 What is your favorite personal credit card?
01:13:00 What if I’m in Canada?