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Would you ever consider using a credit card to run and grow your small business?
I am currently working on an idea which is credit cards for small business in India. I thought by posting this question on hacker news I can get valuable feedback. Please tell your honest opinion about my Idea in comments.
- mtmail 5y agoNot sure I understand the idea. Can you describe it in more detail? (It's better to add 'Ask HN:' to the title, see https://news.ycombinator.com/ask https://news.ycombinator.com/ask)
- ajinkya99 5y agoI started working on this idea because lot of small business applying for loans. But the loan approval process is really painful, exhausting and time consuming. https://smallcredit.co.in/ https://smallcredit.co.in/ - This is our website url. I created this website just in one hour to validate my hypothesis. # If you want any additional information about idea I can provide you the details.
- mtmail 5y agoBased on the wording on the website it's not clear what to do with the credit card, what the benefits are, what or how it affects growth. What is special and added value about this new service, can't businesses not just go to their bank and apply for credit card? How will be service be less painful or time consuming since you probably have to do the credit validation, paperwork. Yes, credit card for small businesses makes sense. Unclear if your service makes sense.
- ajinkya99 5y agoOk, thanks for giving feedback.
- bwb 5y agoIt is dangerous :)... I did it in college, ended up with loads of debt and a small business but it wasn't a great financial decision. Super high interest.