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    4 Replies Latest reply on Feb 25, 2009 4:43 PM by toosouth2

    Secured/unsecured line of credit/other options?

    toosouth2 Newbie
      I started a business engaged in the inspection, maintenance, repair and certification of fire systems, fire extinguishers and safety systems. Although the economy does not appear to be favorable at this time for any start-up venture, I believe that the climate is prime for a start-up company that can thrive in this environment due to several factors such as; no aging of A/R burden, low overhead, superb response times, thorough knowledge of market and marketing strategies. The owners have the financial resources to fund the establishment and growth of the company but they would like to give those resources time to recover once the economic conditions rebound. Should we use those resources at this time or in the short future, we will be taking a loss with those investments and/or money market accounts. What would be the best option as stated on the subject line for working capital for the business?
        • Re: Secured/unsecured line of credit/other options?
          amspcs Ranger
          Hello. Greetings from right up the road in Palm Beach Co. My business puts me in contact with a lot of
          businesses, including start-ups, with needs such as yours. I've successfully worked with a couple of gentlemen over the years you might want to have a conversation with. Drop me an e-line with your email address and I'll share names and phone numbers. Good luck.

          Merchant Services Credit Card Processing

          • Re: Secured/unsecured line of credit/other options?
            LUCKIEST Guide
            Secured/unsecured line of credit, Welcome Alex

            I am a SCORE Counsel. SCORE is FREE. SCORE suggests both a Business and Marketing Plan

            SCORE has a FREE Virtual Learning Center with 26 Free on line courses.

            Good luck, LUCKIEST
              • Re: Secured/unsecured line of credit/other options?
                toosouth2 Newbie
                Hello Luckiest, it is a great pleasure to have the reassurance of volunteers such as yourself, to help a new business succeed. I cannot be anything but thankful for your time and efforts to help us out. You guys are great!!!!!!!!!
                I have found however, that due to the current economic circumptances, catching up to the "lending policies" in the current market is challenging and almost impossible. Your insight as to the comparison with the crisis in the 30's has been very valuable to me and I hope that you find it in your heart to accept my most sincere thanks for being there for us. SCORE is great and I certainly hope that all prospective business owners take the time to know folks like you at the SCORE office.

                My most sincere thanks,

                Alex May