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    4 Replies Latest reply on Oct 1, 2008 3:57 PM by trusty_oc

    Need a SB LOC

    trusty_oc Newbie

      Hi All,

      I just found this resource! Happy to be here.

      I am want to buy an established, independent auto repair business in Orange County, CA. I am borrowing the down payment from friends and family, but need a small business LOC ($100K) for operating costs, just in case.

      • I have never owned or operated a business, but have management skills.
      • I don't have any practical experience in the auto repair industry, however, my Dad was a mechanic and taught me a lot. I have no desire to actually work on cars, but would like to manage and grow the business. Cars are my passion, btw.
      • We have some equity in the house we own.
      • My credit score is >750

      In the current lending climate, am I out of luck or are there lenders that can help me?

       


      Thank you,
      Trusty