FAST Business/ Personal line of Credit?
Aug 09, 2009
in
Business Line Of Credit
I am seeking a business line of credit or personal line of credit for 0,000 to purchase an existing business. I would rather not have to provide business financials to tha bank b/c I want to have the cash already in hand when I make the offer to the owner. My credit scores are all in the 720-740 range. I need a quick approval and funding, where should I apply for this?
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3 comments
Damn_ I'm_good on August 9, 2009 at 4:26 am
if you dont want the banks.. try a loan shark…
You might think that sarcastic… but if the banks cannot do you an SBA 7(a) loan for this purchase.. the business aint worth buying in the first place….
Robert C on August 9, 2009 at 4:26 am
At one time applying for lines of was much easier. However as the market has changed lately there are several things you must do before you ever apply for the lines of credit. If your business & personal details are not structured properly you will most likely be turned down for larger line requests. I have seen mis-information being given in several instances that have actually damaged a businesses ability to obtain loans or lines of credit permanently so be careful.
mister ed on August 9, 2009 at 4:26 am
first i think you are making a big mistake by not wanting the bank or lender to be in bed from the start == you may need them later in case bad things come up and you need additional money!!!!