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Category: Finance and Credit Current Grade: B Total Views: 662 Member Comments: 3 |
Posted on: 05/07/2008 Posted by: Chad Blog Points: 159 View all blogs >> |
I am interested in getting a business unsecured line of credit. I was hoping that I could get recommendations/advice of where I should go to get the money. I want to get a $20,000 line of credit. Thanks for the help.
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on 05/08/2008John Corey has probably the best advice. Unless you do not mind using your personal credit to get the loan for your business best bet is the bank.
I recommend to start building for credit through your business to seperate the two. I will send you link that is what i used to get info on how to build business credit up.
If you are serious the best route many times is to work with the commercial department of your local bank. One that is smaller so you can meet the real decisions makers. Over time they will be able to work with you on your deals and the line will grow.
Expect that you should be establishing credit in the name of a company and that will take a few years. Two years is when they start to consider the business as being viable.
Like farming you should plant more than one seed and expect to cultivate the plants before you can harvest a crop.
John Corey
www.CheleseaPrivateEquity.com/blog
www.CreditIsWealth.biz