Imagine this scenario: you take your business plan to your banker and pitch your heart out. Your banker listens, praises your idea—and then offers you a credit card with a 15% APR.

No, it's not a joke. Since the slow economy has forced banks to tighten their belt—and limit the amount of traditional loans and lines of credit they can offer small businesses—this scenario has become increasingly familiar. Instead of low, fixed interest credit lines, entrepreneurs are now being offered "small business" credit cards, reports the New York Times.

There's no question that as an alternative to a traditional loan or line of credit, credit cards stink. Their interest rates can vary wildly. Plus, if you miss a payment or your debt increases substantially (as can happen when starting a small business), they can jack interest rates at a moment's notice. But, on the flip side it's also true that for years entrepreneurs who couldn't get funding any other way have been using credit cards—for better or worse. And if you can't get money any other way, it may be your only option. The problem is that most consumers don't properly manage credit cards, which is why the credit cards are as wealthy and powerful as they are. Entrepreneurs aren't exempt.

What do you think about using a credit card to fund a business?