WE'VE MOVED!

We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
Options

business line of credit or no pg funding

mryukky69mryukky69 subscriber Posts: 1
edited May 2009 in Startup Funding
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
· Share on FacebookShare on Twitter Share on Google+

Comments

  • Options
    StevenSStevenS subscriber Posts: 1
    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.
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    robertjrobertj subscriber Posts: 0 Member
    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
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    mryukky69mryukky69 subscriber Posts: 1
    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
    · Share on FacebookShare on Twitter Share on Google+
  • Options
    robertjrobertj subscriber Posts: 0 Member
    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
     
    · Share on FacebookShare on Twitter Share on Google+
Sign In or Register to comment.