ForumsFinancing Tips

Up to All Forums

This Question is Possibly Answered

1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)

8 Replies Last post: Feb 2, 2009 2:01 PM by ilyab0dner

I need a loan or line of credit to save my business

Jan 20, 2009 5:36 AM

MZF521 3 posts since
Jan 17, 2009

Are there any programs or avenues of credit for small businesses during this credit freeze? I need 40-50k to get me through this rough time and get just to March or April when business always picks up.

Tags: Report as inappropriate

bmt2008 305 posts since
Jul 30, 2008

1. Re: I need a loan or line of credit to save my business Jan 20, 2009 10:18 AM

Yes, there are asset based lenders that could provide the money you need.

If you have A/Rs - you can get both loans and lines of credit based on those A/Rs.

If you take credit cards as payment, you may qualify for a Business Cash Advance (which is not a loan - just an advance against future credit card sales).

And, if your credit is strong, there are non-bank finance companies that will loan up to $100,000 mainly on your credit.

Lot of avenues out there. Could help pin point your best option if you provide more information.

Report as inappropriate

LUCKIEST 7,935 posts since
Aug 6, 2007

2. Re: I need a loan or line of credit to save my business Jan 20, 2009 10:36 AM

loan or line of credit to save my business, Welcome

Tell me more. How long have you been in business??

Do you have an Accountant?? Have you prepared a cash flow report that i can read??

LUCKIEST

Report as inappropriate

amspcs 516 posts since
Oct 18, 2007

3. Re: I need a loan or line of credit to save my business Jan 20, 2009 11:12 AM

If your business accepts credit cards, I'd be happy to refer you to a reputable company in
the business of arranging advances on cc receivables. Please email me privately for the details.
Thanks, and good luck.

AMSPCS
amspcs@juno.com

Report as inappropriate

moneyresource 18 posts since
Jan 6, 2009

4. Re: I need a loan or line of credit to save my business Jan 20, 2009 4:09 PM

What type of business do you have? Do you have purchase orders? How would you rate your credit? There are alternative sources that may be of help. Please contact me and we can discuss them. moneyresources@hotmail.com

Report as inappropriate

jeffbenat 8 posts since
Dec 3, 2008

5. Re: I need a loan or line of credit to save my business Jan 20, 2009 5:27 PM

I would be glad to write up a free proposal for funding for you. We offer a credit card receivables advance. Please contact me at your earliest convenience and let's see if we can help you out. There are no fees involved and it will only take about 10 minutes out of your day!

Jeff Benat
Mother Fund
469-402-1125

Report as inappropriate

MZF521 3 posts since
Jan 17, 2009

6. Re: I need a loan or line of credit to save my business Jan 23, 2009 11:09 AM

in response to: bmt2008

What information do you need?

Report as inappropriate

cfunding 5 posts since
Jan 21, 2009

7. Re: I need a loan or line of credit to save my business Jan 23, 2009 3:40 PM

in response to: MZF521

Hi MZF521,
I may able to get your business funding up to 100K. please email me at shajar@icorpfunding .com to discuss further.

Report as inappropriate

ilyab0dner 63 posts since
Aug 27, 2008

8. Re: I need a loan or line of credit to save my business Feb 2, 2009 3:26 PM

Building business credit sounds like the only option for your business. I assume you write this because you tried to get a loan with every possible bank, the last option is some sort of alternative financing.

Search for "strong business credit" via google or yahoo. There are a handful of companies that can help you achieve this. I don't think anyone can do it quick, but you should still try.

Sincerely,

Ilya Bodner
Small Business Owner
Initial Underwriting Group

Report as inappropriate

Bank of America, N.A. Member FDIC. Equal Housing Lender

Bank of America is not responsible for user posts and other user content appearing on this website and does not endorse or guarantee the perspectives, the advice, the users, the businesses, or the products or services sold by any users or businesses that appear on this website.

ForumsFinancing Tips

This Question is Possibly Answered

I need a loan or line of credit to save my business

Jan 20, 2009 5:36 AM

More Like This

Most Recent Forum Posts

Legend