Thread: business loan dilemma?

In the near future I will be taking a small business loan. I had planned on going to my local bank or to lending club but then I figured maybe I can get away with opening a new credit card with a 0% APR to save on interest. I noticed that the Citi Diamond Preferred is offering 0% APR for 21 months. Do you think I would be able to open the card with a 15k credit line? Is there any reason to take a business loan over this offer?

I have excellent credit
No debt
Amex Blue Cash 30K cl
Citi Dividend Platinum Select 11k cl
Always pay every month's balance in full

You might be able to obtain that credit limit depending on how you will be structuring your business. As a sole prop I would see no issue with it as time in business can be.....swayed. As a corporation, the time in business is easily verifiable and they might not want to issue that amount to a new business depending on what you do. Either will have a personal guaranty so it will be all about time in business and credit score.

At the same time, if you go with the credit card, just make sure you use correctly. There is a saying in bank debt finance.......never finance long term assets with short term capital. Without knowing more, that's all I got.