Home: Message List - Start-up Business... LOC/Loan for $50,000

Re: Start-up Business... LOC/Loan for $50,000

phanio — Fri, 08 May 2009 00:37:36 GMT

Unfortunately - all the things you are trying to aviod is what it takes in this market.

Some suggestions - getting a line of credit maybe a little tough - unless you can get that from a business credit card - but, with poor credit that is not likely to happen. Depending on how bad your personal credit is - you might be able to get several personal credit cards for that amount (credit cards are essentially lines of credit).

You state you are a start-up - most start-ups do not have long customer lists - but if you are an expection, there are credit lines based on unpaid accounts receivables or business cash advances against future credit card sales. But, these do have many of the things you are trying to avoid.

There are also personal loan companies that can lend up to $25K - these are not lines of credit - but more term loans. Again, they also have some of the things that you are trying to avoid.

What I am getting at is that with mediocre personal credit your options are limited - especailly for a line of credit but there may be options for a term loan(s) for the amount you are seeking.

You can also try to improve your credit - fixing the negative or consolidating your outstanding. This not only will help free up your current cash flow but will better position you for capital in the future.

Business Money Today

Re: Start-up Business... LOC/Loan for $50,000

FINANCEASST — Thu, 07 May 2009 20:07:15 GMT

Do your customers have good credit and are they commercial?

Re: Start-up Business... LOC/Loan for $50,000

LUCKIEST — Thu, 07 May 2009 15:47:44 GMT

Start-up Business...Welcome, YES many recommendations.

Go to Members page and share some info and YES I will also share.

LUCKIEST

Start-up Business... LOC/Loan for $50,000

jhk002 — Tue, 05 May 2009 15:20:46 GMT

A start-up publishing company is looking for a line of credit for $50,000.... obviously no business credit history and mediocre personal credit history. Any recommendations on real lenders... without ridiculous advance fees and application process that can possibly do a line of credit?