Hi Everyone,
I have looked all over this forum, but if I missed out on a thread, can someone please point me to it? I am looking for some guidance on financing and how to purchase my initial inventory for my Ecommerce venture. Some backstory- I have a credit score of 750, with a total of about $10,000, work a stable job that I net $1,000 per month in cash flow. I have already had a 'Sample Order' with my supplier and found good product/market fit! My question is- what is the best way to finance this initial inventory? I understand that cash is king so I was planning on keeping my money in a HYSA while purchasing the inventory on a new business credit card to pay over time (12 month period with 0% APR). The only negatives that I have heard is that it would hurt my credit score if I am 1. Going over my credit utilization to purchase this inventory 2. Carrying over a balance per month. I would however, be paying more $ per month as money allows it using my cash flow from my day job.
I have looked all over this forum, but if I missed out on a thread, can someone please point me to it? I am looking for some guidance on financing and how to purchase my initial inventory for my Ecommerce venture. Some backstory- I have a credit score of 750, with a total of about $10,000, work a stable job that I net $1,000 per month in cash flow. I have already had a 'Sample Order' with my supplier and found good product/market fit! My question is- what is the best way to finance this initial inventory? I understand that cash is king so I was planning on keeping my money in a HYSA while purchasing the inventory on a new business credit card to pay over time (12 month period with 0% APR). The only negatives that I have heard is that it would hurt my credit score if I am 1. Going over my credit utilization to purchase this inventory 2. Carrying over a balance per month. I would however, be paying more $ per month as money allows it using my cash flow from my day job.
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