Business Credit Lines Being Cut
Greetings Entrepreneurs,
Today I got sad news that my corporate credit card was being cancelled from Advanta Business Card. The Card had a a 50K limit and it was the card that I issued to key employees for purchasing. Although we tended to use the card and pay it off monthly I thought about the small business owner that relied on this card exclusively in tough times to meet cash flow needs.
Advanta was a great company and even owned a leasing company which later became Marlin Leasing. This is their final exit off the business stage and unfortunately might take a few hundred small business’s with them.
I am hearing almost daily on long established lines of credits being cancelled or a minimum being reduced. Are we all having fun yet?
Tags: Advanta, entrepreneur credit, Marlin Leasing
