Small Business, Big Risk: Finding Security in Uncertain Times Using Credit

Business ebbs and flows are all part of the journey. You’ve likely experienced this by now: always needing to buy supplies, pay for services in advance, or keep up your marketing efforts—even when business is slow. Sometimes, revenue flows in, but other times it feels more like a slow drip. These fluctuations can make running a small business feel risky, daunting, and downright frustrating.

One way I’ve managed to navigate these ups and downs is through my American Express Card. In fact, I have two: one for everyday business expenses and another reserved for larger needs, like planning retreats, restocking supplies, or riding out those unpredictable ebbs and flows.

How American Express Supported My Business in Tough Times

American Express has been instrumental in helping me through several challenging periods. I became a member in 2005, so I’ve relied on them for nearly two decades. Back in 2010, after the real estate, bond, and stock markets crashed, I had to close my business. For months, I kept things afloat using my Amex, making it possible to handle urgent expenses and keep things moving, even as my revenue dipped.

Eventually, American Express reached out to let me know that, due to my account balance, they’d need to temporarily suspend my charging privileges. I could pay what I owed to keep the account open, but my charging ability was on hold. I remember feeling disappointed but recognizing it as the right decision at the time. I was becoming over-leveraged, and closing my business was necessary. I reminded myself, “The business failed, you didn’t.” By mid-2011, I began rebuilding and regained my footing.

What surprised me was that, just as American Express noticed my challenges, they also noticed my progress. About a year later, without any request on my end, they reached out to restore my privileges. It felt as if they were saying, “We see the work you’re putting in, and we’re ready to support you again.” I started using my card responsibly at Gold Status, and four years later, American Express reached out again to offer me Platinum Status.

Yes, there’s a fee for the Platinum card, but with responsible usage, I found that the rewards, benefits, and privileges easily justified the cost. While there are some limitations (like acceptance in certain countries like Monaco and Malaysia), I can use it nearly everywhere in the United States and earn points—sometimes double or triple on purchases, which has added significant value to my business.

Why I Recommend American Express for Business Owners Like You

American Express was there for me when I needed it most. It kept me on track during challenging times, offering support without judgment, and then stepped up with opportunities to grow when I was ready. That’s why I encourage you to consider applying for an American Express Card. Having access to reliable credit can provide flexibility and peace of mind when you need it most. Here are just a few ways that available credit can be a lifeline for a small business owner:

Smooth Over Cash Flow Gaps: Whether it’s ordering extra supplies or investing in seasonal promotions, a line of credit can help maintain momentum when cash flow is tight.

For example, one of my clients used his American Express card to buy leather in bulk. After COVID, the cost and availability of imported leather became unpredictable. By purchasing in advance, he always had enough supply to fulfill specialty orders for his customers. Not only did this keep his business running smoothly, but it also positioned him as a go-to resource for others in the industry. He sold extra leather to colleagues in need, building his reputation and adding a new revenue stream.

Manage Large Purchases: Major upgrades—such as new chairs, stations, or treatment beds—can improve the client experience without draining your cash reserves.

Last year, I worked with a salon owner who aspired to establish her business as an upscale salon. She had already attracted a clientele with a taste for luxury and knew that upgrading her salon’s furniture and equipment would elevate the environment to meet their expectations. This $25,000 investment helped her create a space that her clients wanted to recommend to their friends. While she knew this would pay off, she couldn’t have managed the upfront cost without her Amex card.

Finance Growth: Planning for growth often requires an initial investment—whether that’s expanding into a new location or adding a product line. Having access to credit gives you the flexibility to act when the time is right.

One barbershop owner I worked with had cultivated a loyal following; in fact, his shop had become the place to go. Recognizing his influence, he decided to start selling merchandise. He approached his bank for a $15,000 loan, but they declined, calling it “too small” for a loan. He could have gone with on-demand printing, but he wanted a higher-quality product. Fortunately, he already had an American Express card that I had recommended. Using it to finance the merchandise upfront allowed him to introduce this new offering to his customers—and it was a huge hit. There’s more to this story, but I’ll share that in an upcoming post.

Sharing Resources and Building a Supportive Community

If this sounds like it could be a solution for your business, I encourage you to take a look at American Express's offerings. Here’s my referral link. If approved, we both earn rewards, which is just another way to create mutual benefits as we grow our businesses. Check out the benefits and see if it’s right for you.

I’ll also be writing a blog next week to dive deeper into the rewards program, sharing how I use my cards to maximize rewards over the years. For instance, those rewards allowed me to gift my mother a trip to Las Vegas for her birthday—a memory made possible by strategic credit management. And the week after that, I’ll discuss Small Business Saturday, sharing more of my small business journey and inviting you to tell me yours in our ThriveWell Collective Community.

The more we share, the more we can learn from each other’s experiences. Running a business has unique challenges, but with the right tools and support, we don’t have to do it alone.

Join the Conversation and Explore the Benefits

If you’re ready to explore the benefits of an American Express Card, click here to check out the offers and card details. Let’s keep building, growing, and supporting each other along the way.