Posted by JT-IN on December 19, 2002 at 08:11:30:
CJ:
This is a post that I made some time back. Maybe some of it will apply to your question…
Enjoy the read…
JT-IN
http://www.creonline.com/wwwboard/messages/arc_2002/arc_78/78106.html
line of credit - Posted by CJ Jefferson
Posted by CJ Jefferson on December 18, 2002 at 22:24:30:
How does one just starting off, go to small banks, and attain a line of credit?
Re: line of credit - Posted by TC
Posted by TC on December 19, 2002 at 08:12:03:
You can apply for a small business line of credit at any bank, most in my area will offer between 10-50k at prime plus 2 +/-. This is an unsecured line strictly based on credit history, if your credit’s decent it’s an option. Check with our local small business administration office, they usually have a list of lenders that do small business lending. From my experience, you’re going to have a tough time getting any bank to give you a large working line of credit initially, you’ll need to start small then as you can show more successful deals you can start talking about increasing your lines. If you own a home, equity based lines of credit are a great option, depending on your risk tolerance.
Search the archives on lines of credit, WLOC, HELOC, ELOC, etc. you should find tons of threads.
Good luck.