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    4 Replies Latest reply on Jan 15, 2009 4:45 PM by bmt2008

    LOC advice

    CardGuy Newbie
      Hello All,
      I have been in business for 6 years (though the brand, which I own has been around for 40 years) and need a $50,000 LOC. I create, produce and sell greeting cards, address labels and party invitations and need to purchase new equipment and have some working capital. MOST of my revenue is seasonal (Christmas cards), so I am cash poor the first 6 months of the year. Any suggestions would be helpful.

      Thank you for any suggestions.
        • Re: LOC advice
          LUCKIEST Guide
          LOC advice, Welcome Matt

          Suggestions. If you want to raise money, you need a Business and Marketing Plan.

          Can I see prior year tax returns??

          Talk to me LUCKIEST
          • Re: LOC advice
            moneyresource Newbie

            There may be some alternative financing available for you either with a personal guarantee or with factoring on your future receivables. I would love to speak with you more about these options.
            • Re: LOC advice
              bmt2008 Adventurer
              Seasonal lines of credit are hard to get these days from banks. However, there are other alternatives to banks. Lots of non-bank financing companies that could help you. As other posts show there are Business Cash Advances against your future credit card reciepts. Accounts receivable factoring companies that focus on your customer's (the person or firm you invoice) credit, not your. There are also companies that could provide equipment financing or leasing. The problems with these, as I see from your post, is that you are a seasonal business and do not have the cash or the sales for any of these during the first 6 months of the year - which we are in.

              Don't panic - there are also non-bank financing companies that can provide the seasonal LOC that you are seeking - companies that deal with seasonal business all the time and understand how your business and industry works - these are companies that want to work with you.