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    1 Reply Latest reply on Feb 18, 2009 12:42 AM by bmt2008

    lines of credit

    carmella Newbie
      does anyone know how to go about getting an unsecured line of credit without using personal credit information? I have a new small business that opened in Nov. of 2008. I need working capital and am looking for ways to get this?
        • Re: lines of credit
          bmt2008 Adventurer
          Good luck not using personal credit history. There are some that will tell you that you can build business credit but that takes time and in this market does not really matter all that much unless you are seeking trade credit.

          How does you business take payment? If you take credit cards as payment and take more than $4K per month in credit cards or checks - you might be able to get a business cash advance.

          If you have A/R - you could factor those.

          Could sell your equipment then lease it back.

          Need a small amount you could try micro-credit or peer-to-peer lending (not so concerned with personal credit).

          An SBA loan may be an option if your credit is not too bad.

          Just some thoughts

          Business Money Today