Tuesday, April 21, 2009


You know those credit card checks you get in the mail? The banks don't want to take them. My bank informed me that they, and many other banks, are getting so many bounced credit card checks due to decreased credit card limits, that they treat them differently now. They send them directly to their collections department, who then processes and sits on them for 4-6 weeks. Oh yeah, and they charge $15 for this process. Forget for a moment that the rates on these are not very good; sometimes you just need a bit more cash. I was looking for a short "bridge loan" but ended up canceling the check and using my own money. Short term loans and financing continue to be a problem for small businesses, and mine is no exception.


  1. Have you looked at an SBA line of credit? The SBA is begging for people to take out money. Given the business' track record, you should be able to qualify without too much difficulty.

    Let me know and I can send you some referrals.

  2. I think it's finally time to talk to my bank about business finance. The days of financing a business with personal credit are coming to a close. Even business credit cards are becoming useless, as rates get out of whack; or maybe just reflect their unsecured nature.