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    1 Reply Latest reply on Jun 14, 2008 2:17 AM by mademan24

    Need short term loan for $150K

    RIXRIX21 Newbie

      I started my own business about 6 month ago. it's mostly an agent job that doesn't require front cost.
      Although my company is new, i've been in the industry for over 4 years and have been dealing with big accounts...

      I sell foreign products to customers in US, but i work with commissions.
      PO, Invoice etc would go though the big trading company that i have contract with.

      Problem is that their financial department is very concervative & it takes time to determin
      customer's credit line and can only provide very small credit line.

      I have customer waiting & ready to purchase about $240K (alredy received PO as well) but the trading company canonly give them $100k for now... meaning i will lose $140 order if i don't find solution!

      This clinet have purchase about $1.5millin last year from other company but they want to purchase
      from us this year, but can't sell without the credit line. if i could loan $150k for 4~6month, i can
      move some of their PO...

      What kind of interest do i have to expect to loan $100k ~ $150k or so?
      What do i need to loan that much of amount?

      Please help!