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    6 Replies Latest reply on Aug 17, 2009 12:49 PM by lntelicapital

    Small business credit line

    cdp323 Newbie
      I have been in business now for 50 years, own commercial building value 1.5m clear willing to use to secure a 50k to 100k credit line
      Sub chapter S corp cash flow on tax return low how adays cashflow is all anyone looks at HELP! ideas?

      Thanks
        • Re: Small business credit line
          bentenn Adventurer
          Congratulations on your success for so many years and for accumlating a signficant pile of assets. For help in securing a line of credit you might want to contact your local Small Business Development Center (SBDC). Go to www.sba.gov then click on Local Resources then click on SBDC.

          They will likely suggest that you prepare a business plan that will show the past 3 years of personal and corporate financials and your projections for the next 1 - 3 years including cash flow projections that will show how you can pay off the line in the event you draw upon it. Based on your equity you should not have a problem getting either a commercial or SBA guarantteed loan from your local bank.

          I recommend getting your information in order first and then calling your bank to verify you have prepared everything they might want before going in to see them. Good luck. Ben
          • Re: Small business credit line
            Blabber Wayfarer
            SCORE Comes to mind. They can walk you through it. SBDC was another great idea that the last response stated. Score & SBDC work hand in hand. You can find those links on http://www.blabber.biz and maybe a few more to give you some ideas.

            Congradulations for being in business for that long. Please post how things went for you and if you got your loan.

            Good luck
            • Re: Small business credit line
              phanio Pioneer
              Have you talked with your local bank? You seem to have the collateral - but must have the credit and income to go with it. What type of business are you in? You might also beable to get a line of credit or cash advance based on other financial assets like A/R or credit card receipts.

              Business Money Today
              • Re: Small business credit line
                Wayfarer
                There are many ways to go about alternative financing. Just try to google "strong business credit" (just like that in quotes) to find out more ways to land a loan.

                 

                Sincerely,

                 

                Ilya Bodner
                Small Business Owner
                Initial Underwriting Group
                • Re: Small business credit line
                  merchant Adventurer
                  if you have credit card processing in your business you can get cash advance on your monthly revenue,for more info call me 310-430-3986 or email me nnouri@merchantsolutionsiq.com
                  • Re: Small business credit line
                    lntelicapital Wayfarer
                    Hello - Please take a look at our site and let me know if we can assist you in some way - www.intelicapital.com - Ask for Brian - Thanks!