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    1 Reply Latest reply on Feb 18, 2010 3:57 PM by phanio

    Interested Investor - Letter of Commitment

    relevance Newbie
      I received a letter of commitment from an investor(s) who are excited about my new product/startup.

      I have to confirm a meeting with them by next week, wherein they will decide if I am approved. However, I don't have the finances to fly out, nor for lodging or any of the material items required to represent my new innovation. I would also like to consult an attorney.

      I approached my bank and requested a $10,000 credit card with the promise of depositing the full amount of investor financing (1 mil+) with their institution. They stated it would take a week if approved.

      Wouldn't any financial institution appreciate a client who was bringing 1mil+ to the table? Was it too much to ask for the credit card?