Comedian financed business on credit cards. (Phil Larsson, owner of Ad-Libs Improvisational Comedy troupe)

DOWNTOWN - Phil Larsson can laugh now about the effects of using credit cards to start a business.

"Here I am, debt free. I make a nice living, I work more and earn more; there's a million things in the works," said Larsson, referring to the growing popularity of his Ad-Libs Improvisational Comedy troupe, based at a club in Dallas' art district. "From expanding to different nights to expanding our touring and a possible sitcom, it seems something new happens every week, but with that I can't even get a cell phone."

Businesspeople like to joke about using credit cards to start businesses. Impassioned by some new business idea, they imagine themselves leaving the corporate world to pursue personal freedom.

Well, credit cards are definitely a way to get money quickly if traditional methods don't work, but after his experience, Larsson …