New corporation lending, credit card?
We have a few investments in real estate but another corporation just established as a machine shop we worked with for many years. Maybe 50K in assets right now. We are is desperate need of expanding the business and curious how to get funding for a new machine and a multi-use building? We are considering credit cards but getting a high enough credit limit out of the blocks is tough.
We need around 150K but even 75K would be huge right now for that business. The new machine can pay that off in a year easily but we have to get it here! Ideas? Should we be applying for a personal small business card or is a corporate card the way to go?