I am a potential businessman, and I wou dlike to know if it is possible to get a line of credit or business credit with less than perfect credit. I have most of thi things that I need, I just need a way of getting them with the right amount of capital.

FDIC is going to BORROW money in order to insure accounts. Well if the people that INSURE THE BANK ACCOUNTS don’t have any money, isn’t the whole system on the verge of collapse??

And in retrospect, isn’t the REAL reason the banks got bailed out because FDIC would have taken down the federal govt. with the TRILLIONS it is currently insuring?? (TRILLIONS it doesn’t have)

Too big to fail = if you fail, the govt.fails too

http://news.yahoo.com/s/ap/20090922/ap_on_bi_ge/us_banks_fdic_bailout

Regulators have approached big banks about borrowing billions to shore up the dwindling fund that insures regular deposit accounts.

The loans would go to the fund maintained by the Federal Deposit Insurance Corp. that insure depositors when banks fail, said two industry officials familiar with the conversations, who requested anonymity because the plans are still evolving.

Regulators also are considering levying a special emergency fee on all banks, charging regular fees early or tapping a 0 billion credit line with the U.S. Treasury, the officials said.

FDIC spokesman Andrew Gray said that while borrowing from the banks "is an option, it’s not being given serious consideration." The board meeting where the plans will be discussed is scheduled for next week.

But a government official familiar with the FDIC board’s thinking said earlier Tuesday that the plan was being considered. He requested anonymity because he was not authorized to discuss the matter.

The fund, which insures deposit accounts up to 0,000, is at its lowest point since 1992, at the height of the savings-and-loan crisis. Ongoing losses on commercial real estate and other loans continue to cause multiple bank failures each week.

FDIC Chairman Sheila Bair wants to avoid tapping the Treasury credit line, and Treasury officials insist that the strongest big banks have enough extra capital to operate, the officials said. Comptroller of the Currency John Dugan, who is a voting member of the FDIC board, has said he doesn’t want to levy another fee on banks while the industry is still recovering.
brown………and?

I don’t have cable so I was not able to see it, but the Associated Press article had the following to say about it.

WASHINGTON – Democratic presidential candidate Barack Obama was less than upfront in his half-hour commercial Wednesday night about the costs of his programs and the crushing budget pressures he would face in office.

Obama’s assertion that "I’ve offered spending cuts above and beyond" the expense of his promises is accepted only by his partisans. His vow to save money by "eliminating programs that don’t work" masks his failure throughout the campaign to specify what those programs are — beyond the withdrawal of troops from Iraq.

A sampling of what voters heard in the ad, and what he didn’t tell them:

THE SPIN: "That’s why my health care plan includes improving information technology, requires coverage for preventive care and pre-existing conditions and lowers health care costs for the typical family by ,500 a year."

THE FACTS: His plan does not lower premiums by ,500, or any set amount. Obama hopes that by spending billion over five years on electronic medical records and by improving access to proven disease management programs, among other steps, consumers will end up saving money. He uses an optimistic analysis to suggest cost reductions in national health care spending could amount to the equivalent of ,500 for a family of four. Many economists are skeptical those savings can be achieved, but even if they are, it’s not a certainty that every dollar would be passed on to consumers in the form of lower premiums.

___

THE SPIN: "I also believe every American has a right to affordable health care."

THE FACTS: That belief should not be confused with a guarantee of health coverage for all. He makes no such promise. Obama hinted as much in the ad when he said about the problem of the uninsured: "I want to start doing something about it." He would mandate coverage for children but not adults. His program is aimed at making insurance more affordable by offering the choice of government-subsidized coverage similar to that in a plan for federal employees and other steps, including requiring larger employers to share costs of insuring workers.

___

THE SPIN: "I’ve offered spending cuts above and beyond their cost."

THE FACTS: Independent analysts say both Obama and Republican John McCain would deepen the deficit. The nonpartisan Committee for a Responsible Federal Budget estimates Obama’s policy proposals would add a net 8 billion to the deficit over four years — and that analysis accepts the savings he claims from spending cuts. The nonpartisan Tax Policy Center, whose other findings have been quoted approvingly by the Obama campaign, says: "Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next 10 years." The analysis goes on to say: "Neither candidate’s plan would significantly increase economic growth unless offset by spending cuts or tax increases that the campaigns have not specified."

___

THE SPIN: "Here’s what I’ll do. Cut taxes for every working family making less than 0,000 a year. Give businesses a tax credit for every new employee that they hire right here in the U.S. over the next two years and eliminate tax breaks for companies that ship jobs overseas. Help homeowners who are making a good faith effort to pay their mortgages, by freezing foreclosures for 90 days. And just like after 9-11, we’ll provide low-cost loans to help small businesses pay their workers and keep their doors open. "

THE FACTS: His proposals — the tax cuts, the low-cost loans, the billion a year he promises for alternative energy, and more — cost money, and the country could be facing a record trillion deficit next year. Indeed, Obama recently acknowledged — although not in his commercial — that: "The next president will have to scale back his agenda and some of his proposals."

Laura – Obama’s speech became meaningless when he entered Wright’s church and stayed there for 20 years listening to "Black Liberation theology" which is a twisted perversion of the Christian gospel and is heavily racist to the point of wanting to see white people exterminated.

Obama was born to a Muslim father, he had a Muslim grandfather, he was raised
by a Muslim step father, taught as a boy in a Muslim school, tutored by a man who was a sexual pervert and socialist during his early boyhood, attended the church Wright pastored which had many Muslim members, has been praised by Quaddafi and Hamas – Muslim terrorists,
and in an absent-minded moment on tv slipped and said "My Muslim faith."

His friends are terrorists and leaders who hate our nation and want her destroyed from without and within. He has not proven his citizenship, and his biggest campaign issue centered around race. He has promised that his future plans are heavily racial in purpose.

Christian? Never!
Obama voted 4 times against letting a baby receive medical attention if that baby survived an abortion. Fannie and Freddie paid him more than everyone but Chris Dodd and 39 times more than McCain. I believe McCain received a token payment to cover their tracks, and the big three; Dodd, Obama and Kerry were paid to keep their mouths shut or to continue their refusal to vote with Bush
regulate them. Obama has NEVER at any time declared he loves America, but has called our troops terrorists and has downgraded our Constitution. He has lied so many times about so many things
that it is hard to believe he means any of the things he says. He has vacillated on numerous issues, and has never instituted any legislation in his one year that he actually showed up for work in Illinois. He has can speak eloquently about nothing and people look beyond his lack of knowledge and experience like they are in a hypnotic trance. He is a fraud, and unworthy of the respect of any thinking person.

We (thought) purchased a home in 2007. Our credit was a not bad but not enough to qualify for a home loan. The realtor agent offered to take the ,000.00 down payment, apply it to the purchase and keep the mortgage papers in her name until we qualified and could put the mortgage in our names. Until then she we were to have, papers signed and notarized giving us legal rights. There was always an excuse to not to sign and notarize any paperwork showing us having any legal right. She never authorized us at the bank to have any contact with them for any reason allowing us access or communication with the lender. Even if we wanted to make a payment online or by phone, we could not due to not being authorized.

Now two years later after paying the mortgage she told us she gave the house back to the bank and bank will no longer accept a check from us to pay the mortgage. Tomorrow it goes up for a trustee sale the only proof we have is the $ 21,000.00 payment made to the mortgage co. in the form of a money order. And cancelled checks and debits out of the bank account for the monthly mtg. There was no rental contract or lease agreement because of course we thought it was our home.

What if anything can, we do and what happens to us after the auction sale tomorrow? How long do we have to vacate?

She also has all our escrow paperwork from the sale of a piece of commercial property we sold in October of 2007, which gave her a very large commission, and will not give it to us. This keeps us from filing our 2007 tax return because we do not have the information of the sale. In correspondence the IRS sent us, it shows that for the sale of our commercial property, the escrow company listed her home address with our name as our mailing address to send correspondences and/or paperwork .

When we call her, she just hangs up on us.

Please advice.

I am trying to incorporate and i would like to build business credit fast to apply for a loan. I have a good co signer.. My credit I am working on… and ( what is the difference between business line of credit) I believe that is not the same thing as money. I need a partial loan because we only will have part of the money. Serious assistance please. I already went throught a company that was to help build business credit and because i waited a year to start working with them they closed the account. *** I guess if you dont’ open in a year you are SOL> I will report them to the bBB because we were not told there is a time limit to use their services to help build business credit. ** so definately serious help please. We are trying to see if we can open seriously by november or at least have 80 percent of items completed to open befoer applying for a loan. ( Oh yes i have a great business plan!!)
Please no solicators for your own company. I just need some help from my yahoo partners whom are serious. I have decided to jump in and take the plunge. Thanks!!

ok, this might be a rather dumb question. But how does seller finance work on commercial buildings? I outlined what I "think" it is below.

lets say you have a building for 1,000,000 at 6% Interest Only for 5 years.

Seller is willing to carry back 80% (800,000).

Lender is willing to finance the remaining balance with 20% down (So this equates to 40,000 cash you need to bring to the table) 160,000 is the amount the lender is going to finance.

I am assuming that the lender has the first position with his loan and the seller finance goes into the second.

What can be done to protect the seller should the buyer default on the loan?

Am I Missing something?
Any infomation is appreciated

There is a " Term Asset-Backed Securities Loan Facility " whichi is supposed to " get credit flowing more normally again," It is for a trillion in lending for households and businesses, especially commercial real estate which is not doing so well lately

"Under the program, which got off to a slow start in March, the Fed provides loans to investors. They use the money to buy newly issued securities backed by auto and student loans, credit cards, business equipment, commercial real estate and loans guaranteed by the Small Business Administration."

Do you think this will get us out of the recession, or do you think it will get us into deeper trouble?
http://news.yahoo.com/s/ap/20090925/ap_on_bi_ge/us_bernanke

Im looking for applications to banks that offer a business line of credit of ,000 or more.

Me and my fiance have limited credit history we were however able to finance a car now we need an apartment and I was wondering if our bad credit would get us denied or if they are looking for history as far as apartments shouldn’t the car get us brownie points also I have a good city job too

A trillion dollar commercial real estate crisis will begin to unfold in 2010, when short term loans must be refinanced, yet commercial property values have plummeted.

As many as 500 regional banks may fail as commercial loans default, and the FDIC only has 10 billion left to cover insolvent banks. Compounding this Deuthsche Bank forecasts that 48% of home mortgages will owe more than the home is worth by the end of 2011.

I am in the early stages of a start-up and am wondering how I can get a business credit line when the business has no credit history. Is it based on the owners’ credit?

I will be attending a recording workshop next month and some prior financial arrangements fell through… The school is a technical school and I only need about ,500.00. Compared to other school loans this is change, but I need this loan before January. I know that it has to be a private student loan but I’m really not quite sure how to go about it and the pros and cons of lenders. I see commercials from Astrive and such, but I’m not sure if a place like that is my best bet. Any comments will help. Thank You.

jac.

Commercial real estate loans? How do they work
How do developers get money to build huge skyscrapers?
How do they pay these loans back?
I need details.

This is a business card, I was relying on the full use of the credit line for business, now I am stuck. I contacted them and they said I had too much credit, if you can believe it. I don’t think it is fair and they are not going to get paid.

got this today:

rom:
"YAHOO INTERNATIONAL PROMOTIONS" <info.yahoo@promo.co.uk>
Add sender to Contacts
To:
undisclosed-recipients

Classic Trust Loan Firm

We Offer Private, Commercial and Personal Loans with very Minimal annual
Interest Rates as Low as 0.2% within a 1year to 50 years repayment
duration period to any part of the world. We give out loans within the
range of ,000 to 0,000,000 USD.
Our loans are well insured for maximum security is our
priority ,Are you losing sleep at nights worrying how to get a Legit Loan
Lender? Are you biting your finger nails to the quick? Instead of beating
yourself
up, contact Classic Investment Loan Firm now, Loan specialists who help
stop Bad Credit History, to discover a win solution which is Our
Mission.* Are
you financially Squeezed?* Do you seek funds to pay off credits and debts?*
Do you seek finance to set up your own business?* Are
you in need of private or business loans for various
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various ther processes?* If you have any of the above problems, I
can be of assistance to you.Interested Persons should
contact me via email.

E-mail :revjamesterryloanfirm7@hotmail.com

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it’s fake i think
can you smart people make sure

http://www.samesexmarriage.ca/legal/ontario_case/appeal/pride_week_marriage.htm
clearly states:
“When (gay American) couples who marry in Canada come home — they will be as married as any people on the planet. That means, for example, the couples will identify as married on applications/forms for jobs, apartments, credit, mortgages, insurance, medical treatment, and taxes.”

That’s a quote from an article on June 13, 2003.
It clearly states that direct & loud. A gay marriage from Canada is recognized everywhere in the U.S.!
It clearly states that. That’s a quote. A direct quote.

yet I am hearing people tell me that this is not true.

but if it’s not true…….
How come Canada advertized commercials to invite gay Americans to get married in Canada?
http://www.youtube.com/watch?v=LvE5RWeCXr8

and how come so many Americans traveled to Canada to get married?
and don’t tell me "it was for ceremonial purposes" because if it was for ceremonial purposes it could be done from the U.S., no need to go to Canada.
Even Wikipedia’s take on it says:
"Canada and the U.S. have a history of respecting marriages contracted in either country."

I only need the insurance to qualify for a business line of credit, so the amount to insure only needs to be ,000.00 (as opposed to 1 million that I keep getting quoted for a premium of at least 0.00

I’m looking to purchase a 6 – 10 unit apartment building. My end goal is to move-in one of the units, and rent out the remaining units. I know that I will need to acquire a commercial loan for the purchase of a building this size, but I am not sure of the typical down payment requirements and other items used in qualifying a purchaser and the apartment building. Can anyone provide me with the ‘ins/out’ of this type of transaction? Thank you.

Dun & Bradstreet was paid in March to create a PayDex score and credit file on my 8 year old business. Now that they have the money, they say that the creditors I listed are NOT D&B members, so D&B can not use them as a reference. D&B will not return any money paid to perform the service they were paid to do. As a small business, real estate rehabber/investor/wholesaler, I need to be able to borrow in the corporate name without any attachment to my personal credit. Other companies I contacted for business credit building want money also.How can I be sure that a credit report will be built for my company, without personal attachment, IF I pay another fee to another company? I really just need a few hundred thousand dollars to start…maybe Trump would want to help me out…I’m a big fan of his! I can’t even imagine…anyway, how can I get guaranteed results in building a business credit report and obtaining a line of credit in the business name?

I am looking for some reliabble commercial lender/broker who can get good interest rates on stated income loan for my client. He has good credit history.

What bank has a nice program for unsecured lline of credit for a business with good credit and personal guarantor with excellent credit? Low documentation

I’ve gone through the calculations and this is the absolute minimum I can use to just scratch by for starting up my business. Does anyone know where I can get this money? I will not be able to start repayment until at least three months after start up.

I am looking at buying a 90 unit storage unit facility. It is fenced and does not have power/water to the property. I’ve seen the 2006 & 2007 taxes for the property. They claim the gross income appr. k (both years) They are asking 9k for it. I spoke with my lender. I have to come in w/ 30% for a commercial loan. I’m considering offering 5k, so I would bring ,500k via 1031 exchange. My loan amount would be 7,500. With a loan of 7.3% so payment of 50. So they average k a month. But taxes/insurance/other expense eat up about 0. Do you think it’s worth the hassle for 0 a month? The units are about 15 miles from my house. I currently work a full time job and not sure if I want to take this on. My job is flexible so I could leave during the day to meet people if needed. Any other investors opinion?
I have researched starting from scratch. 1 acre of land (the units sit on 1 acre) is appr. 0-160k, the units to be built are appr. k each (3 buildings) For a total of 5k. The units have the potential at full rental to make k.

I have a very high credit score (770) and want to secure as much business line of credit as possible. I would take a million if they would give it. Problem is of course gross income. I don’t mind being personally responsible but is it legal to apply for say 5 50k lines of credit on the same day and get them within the next week or so.

hey all,

i’m a 21 year old college student majoring in music (production/recording). i just purchased my 1st home cash/outright.
i lost my mom in 2001 when i was 13 and used the modest life insurance policy she left for me to purchase the home. after losing my mom i moved in with my grandmother and lost her in 2004 after a year long battle with cancer. she left me a 1400/mo inheritance which i have been using for my education and related expenses. this $ is from her interest in a family business and will continue uninterrupted until her siblings sell the 2 commercial buildings they own and rent out. unfortunately i am a silent partner with no voting power and/or the ability to borrow and/or cash out of my interest in the co.

i have 100% equity in this property and its TAX ACCESSED value is 200k. just before i purchased the property i bought (cash/outright) 50k of landscape equipment and will be self employed/full time in the spring of 09. my education is almost complete…1 more semester and will continue on a part time basis. at this moment i have 10 weekly customers (800/wk or 3200/mo) and am looking to increase that # to 20-25 by spring. my property will also generate income…it consists of a 4br house, 2 br cottage, 2 car garage and is zoned "village commercial". with this zoning, there is an option to rent part or all of the property to certain types of business… pottery shop, general store, real estate office, bar/restaurant, etc. i have a couple ready to sign a contract for the cottage (1200/mo) and 2 roommates to share the house with me (600ea/mo). i also have the option to rent out a small commercial suite on the 1st floor of the house (1000/mo). my long term plan is to use this (comm) space for my professional recording studios… not ready ($).

although i do not "technically" have a declared income (yet), can i get a 100k loan using my property as collateral? moreover, can i use the rental, inheritance and landscape as income NOW, or how long do i have to wait to "technically" be considered a landlord and/or small business owner? i know i can handle this loan without any problem just with what i make right now. sad thing is… had i closed just a few months prior, it would have been "rubber stamped" by any bank and/or mortgage co. the way i found the property right up to the closing was done unconventionally… i am UNAFRAID to think and/or act out "outside of the box". any information and/or suggestions will be greatly appreciated. hope all is well. have a good one.

I’m a woman who drives an older car and when I call around to most junkyards I end up being told that I don’t know what I’m talking about and/or given an outrageously high quote for the part I’m looking for. In one case the quote on a used part was HIGHER than buying the same part NEW at Advance Auto. My husband went to the same yard and they quoted him a much lower price on the same part.

I get really frustrated by this because before my husband got his engineering degree he worked as an ASE certified auto mechanic and all of my information comes from him and my official General Motors shop manual for my 1992 Pontiac Bonneville. I’m the one who handles most of the purchases due to my husband’s work schedule and it gets annoying when he has to waste his time doing something that I could have done myself if people had been honest with me.

Its gotten worse since we moved down south. Back in Delaware I’d get the occasional sexist junkyard jerk but I’d at least be able to get my part from someone for a reasonable price. Down here it seems like the jerks are a little more prevalent. On Friday, I had some bone head argue with me that I could only pull a bracket I needed from a 3800 V6 that was in the exact make, model and year car I needed it for. Any mechanic will tell you that the vast majority of components on GM 3800 V6 engines are compatible with other GM 3800 V6 engines of the same time period regardless of the make or model they were installed in. My husband talked to the same bone head who told me I was wrong and he told my husband it would be completely OK to pull it from the 1994 Buick LeSabre they had on their lot.

Any ideas on how to prevent issues like this from happening again? I don’t get any issue from guys at retail parts stores; in fact, most of them are impressed by my breadth of knowledge about cars. At one store the commercial services manager even set me up with a permanent business discount because I bought 0 in parts at once.

As my car gets older, I foresee this happening more and more if I start needing obscure parts to upgrade/change systems.

Don’t tell me to buy a new car either. This one isn’t eligible for the CARS program due to its wonderful gas mileage. Plus, the hubby and I can’t comfortably swing the payments on anything brand new or even late model on one income while trying to pay student loans and a mortgage while also saving for retirement. Its cheaper to fix this one than it is to buy a new one.

Can’t we all be gender neutral when it comes to car knowledge?

I purchased an aged shelf corporation from a broker and they were able to get me ,000 in business credit lines in the form of multiple Visa, MC and an Amex card based on the company’s credit profile. That’s the good news, the bad news is that my partner (co-owner) will be unable to fulfill his obligations in our partnership agreement pertaining to the company. Now I’m not sure what to do with this shelf corporation as I paid 15k for it and don’t really want to lose money – if that’s possible. I tried selling it back to the broker I bought it from and they only offered to buy it for 10k. Any suggestions?