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A comment on What it's like to bootstrap a business before it can financially support you. Parent comment

Re:What it's like to bootstrap a business before it can fina... by ineedasername on Tuesday December 24, 2019 @09:54PM (#21876447)
When I was in tangentially involved in sales, companies under 2 years old were required by the underwriters to provide a personal guarantee. Similarly, any credit card issued in the name of the company either had very low credit limits or personal cosigners. This was like 20 years ago though, so things could be different now.
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Re:What it's like to bootstrap a business before it can fina... by o-__-o on Wednesday December 25, 2019 @12:06AM (#21876940)
Opened a CC last year for my 8 month old business, got $40k line of credit on $100k gross revenue. The limit may have gone up since then (my personal cards have)

It feels a lot like 2005 all over again, easy credit that will wash up at the first hint of economic downturn (I had cards reduce their limits in 07 just because)

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