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One company I worked for used credit cards to make payroll instead of going for another round of funding. Weirdly, that worked out for them, and they sold with
by ktRolster 11y ago
One company I worked for used credit cards to make payroll instead of going for another round of funding. Weirdly, that worked out for them, and they sold with a profit (for everyone that had stock).
- hodgesrm 11y agoCredit cards work if you are evening out cash flow. For example, if you have a good rate of receivable collection but variation in the timing of payment credit cards are way less hassle than other approaches like factoring or doing something like taking venture financing, which tends to come with pretty onerous terms.