Home: Message List - collateral loan?

Re: collateral loan?

carson — Wed, 19 Mar 2008 18:45:54 GMT

What locations is your collateral placed,can they be reached by an investor,give me a reply and also send detailed business plan to doncarson7@gmail.com

Re: collateral loan?

TJMorehead — Tue, 18 Mar 2008 04:06:28 GMT

Hello Yellow Box,

Saw your post, and I just wanted to present my services to you for future reference. If you hadn't found a solution for your scenario, I'll be more than happy to assist you.

Here is one of the programs my company offers: The CommunityExpress Loan especially designed for start-ups and emerging companies. There is no business plan required; no personal financial statements requested; not tax returns needed; no collateral required; no early payment penalties; no complex paper work; and no high interest rate. You only need a DBA (doing business as) certificate and a business checking account established in the name of the business.

Other funding programs available:

Government Small Business Loans up to $2,000,000
Equipment Lease Financing
Contract Financing
Factory Financing
Revolving Lines of Credit
Merchant Card Processing Services
Merchant Card Express Cash Advances
Business Credit Building 7 month Program
Credit Restoration Services

I'll be happy to help facilitate the appropriate funding program for you. My email is moreheadsconnections@gmail.com

Warm regards,
TJ Morehead

Re: collateral loan?

jgoldstein — Tue, 16 Oct 2007 18:41:35 GMT

A new small business loan, paid on time each month, will help you obtain more future credit. 3 to 6 months is a good place to start.

Borrow in the company's name, with you as a personal guarantor. Most banks and credit unions electronically report their loan experience to the three major credit bureaus each month.

After you pay this initial loan off, you can then use the bank or credit union as a credit reference.

Then, you may want to do the same thing with a different bank or credit union to have a second reference.

After a year or two, the company should then be able to borrow on its own merit, if the financial performance is good.

JERRY

Re: collateral loan?

Yellow Box — Tue, 16 Oct 2007 18:33:02 GMT

That's what i"m trying to do. when you say a short period of time is that 3 to 6 months? thank you for responding to my post

Re: collateral loan?

Yellow Box — Tue, 16 Oct 2007 18:31:10 GMT

thanks for your time.i'll check it out.

Re: collateral loan?

LUCKIEST — Tue, 16 Oct 2007 13:20:35 GMT

Yellow Box, I have replied before. However I just read about a web site
GATHERINGOFANGELS.COM who make short term loans.
Check out the site. LUCKIEST

Re: collateral loan?

jgoldstein — Tue, 16 Oct 2007 13:03:32 GMT

Your company's credit rating will be established and grow as you use credit from suppliers; who in turn report to Dun & Bradstreet (D&B), a business credit reporting agency.

You can speed the process by borrowing $5k or $10k from a small bank or credit union, WITH YOUR PERSONAL GUARANTEE, and then paying it back promptly.

Until you have been in business for 24 months, the company's borrowing capacity is 100% dependent upon your personal credit score, and will require your personal guarantee. After 24 months, assuming your company is profitable, and pays its bills in a timely manner, the company may then be able to borrow without your personal guarantee. Bankers know that about 90% of new businesses close within the first 18 months, so they are cautious.

JERRY

Re: collateral loan?

Yellow Box — Tue, 16 Oct 2007 00:16:35 GMT

Thank you for answering my question. Our company is 6 months old, We ended up paying cash for everything. Now as we start to expand we realized we should have let our money build our credit for us. ( maybe a cd secured loan ) instead of paying cash. I prefer to establish credit in the company's name than use my perrsonal credit. kinda hard to do since we are 6 months new. The 10 k was just a figure we threw out there that could help us establish our credit history and not hurt us down the road. we figured it would take 60 - 90 days to repay, hoping that would help build our credit. The biggest thing for us is just establishing credit other than our credit cards thru the company. Thanks for your time.

Re: collateral loan?

LUCKIEST — Mon, 15 Oct 2007 21:06:26 GMT

Need more info. Are you in business?? How long?? Showing a profit??
Do you have a good credit history?? Do you have an Accountant??
Why do you need the money??
How about Equity Loans, Lines of Credit or Credit Cards??
Good luck, LUCKIEST

Re: collateral loan?

jgoldstein — Mon, 15 Oct 2007 20:31:21 GMT

$10k is a very small business loan, and most banks won't have very much enthusiasm due to the low amount and the paperwork involved. Collateral on a loan this small is almost more trouble than a help.

1. If your credit history is good, you may be able to borrow unsecured from a smal bank or local credit union. ASK!

2. If you have unused credit card capacity, this may be another good option, and very easy to do.

3. If your credit isn't strong, perhaps you have a relative (Mom, Dad, brother) that will co-sign and guarantee the loan.

Good Luck!

JERRY