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business line of credit or no pg funding

    • 927 posts
    May 27, 2009 5:11 AM EDT

    mryukky,

    I`ve been working (for the past 9 years) with entrepreneurs who are seeking funding and here is what I know:

    1. I have yet to meet anyone who has actually received a loan (cash) by buying a shelf corporation.

    2. I haven`t met anyone who has built their corporate credit in 6 months to get a loan.

    3. The (legitimate) lenders that I know will not (don`t) provide a loan to a corporation (or llc) which has little operating history (revenues and profits) without knowing something about the owners - and that means at least looking at their personal credit history.  Also, to most of them a Paydex score has limited impact in their lending decision.

    4. Whether a lender will insist on a personal guarantee depends upon several factors starting with the financial "strength" of the company. Unless it`s an SBA loan -where the request for a PG is virtually automatic.

    How much capital are you trying to acquire?

     

    robertj2009-5-27 10:14:45

    ---
    Business Growth Masters, LLC -
    Capital Catalysts for Entrepreneurs
    Home of the Scalable Business Plan and QuikStart Capital Programs
    http://www.bizgrowthmasters.com
    info@bizgrowthmasters.com


    • 927 posts
    May 28, 2009 5:15 AM EDT

    If your business has been around for 10 years, it should have enough "performance history" to qualify for a loan.

    I hope your research provides you the info you seek. If you`d like to discuss your specific situation (in confidence) send me a pm or contact me directly

     

    ---
    Business Growth Masters, LLC -
    Capital Catalysts for Entrepreneurs
    Home of the Scalable Business Plan and QuikStart Capital Programs
    http://www.bizgrowthmasters.com
    info@bizgrowthmasters.com


    • 27 posts
    May 26, 2009 10:29 PM EDT
    Go to creditboards.com and look in the business credit section. You will learn everything you have ever wanted to know about business credit and what you need to do to get it.
    • 2 posts
    May 25, 2009 10:37 PM EDT
    I am seeking funding or loan,, I seen several sites on craiglist and numberous classified sites. stated we can get you funded through LLC or business lines of credit,
    I want to know anyone who has got funded through this method. does it work? is this a scam? if you got funded how did u do it?  any info is greatly appreciated
    • 2 posts
    May 27, 2009 7:29 AM EDT
    wow. ok that very funny there A section in this website helping someone or group how to incorporate your business.aka shelf or llc like so many ads or claims is it there. I ran into a 50 or more sites claiming the same thing. one even teaching in person or over conference calling to get starting , I was hoping some feedback on anyone else in this forum who have attempted and or recieved funding. I hoping for more but so far thanks for those who replied
    I am a business owner for  over 10 years. I have recieved funding from prosper and sba,. home equity loan, and just doing my research