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Jay Cullimore - Eking out credit
Cofounder and CEO, Tropical Lights
Ft Lauderdale, Fla.

Our small, seven-year-old business has been applying for a bank credit line throughout the last four years without success, even with broker assistance. Every time we applied, either the rules had changed, the bank lost our paperwork or needed more info, or would not give a reason why we were not approved.

To fund expansion we have been forced to use credit card advances with interest rates of 30% and up, which can kill you. We finally did get approval for a bank credit line at reasonable rates, but only for a very small amount - we have $20,000 in credit for a business doing $800,000 in sales and growing 100% per year. It's pretty ridiculous.

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LAST UPDATE: Oct 04 2008 | 2:03 PM ET
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