Has anyone tried the Tom Kish product for the $200K unsecured line of credit that is advertised in the banner?
I was wondering the same thing. T ???
I work a lot with unsecured commercial lines. Especially on the East Coast. What he is referencing it that ad is the eligibility of up to 200K over the course of multiple lenders. $200K is just a nice figure to work with. Usually enought capital at any given time to get a rehab project done. There are also a lot of additional benefits to have commercial lines that the everyday investor does not know about. Any questions, feel free to shoot an email. Thanks.
The so-called source of unsecured credit-- that talks about a $20,000 credit card that does not use your personal credit-- will probably turn out to be nothing more than information about how to build business credit.
After you get to the end of their website, you’ll find that they are charging $297 for their information.
I woudn’t buy it.
www.creditco-op.com has a “fast track” business credit builder program for $149.
It’s not just information. They actually work you through the steps that you need to take to build business credit.
They tell you to get an EIN, and then a DUNS#, and then they submit your DUNS# to D&B to establish your business credit file. Then, they give you access to vendors that you can set up accounts with (who will report your good credit to D&B).
Once you have enough trade accounts, they will give you access to banks that will give you loans, leases, etc.
This is all separate from your personal credit.
if you want to do it the easy way, dont rock the boat. Once you have your EIN #, you will receive apps in the mail from banks. They buy from your state, newly formed compnaies and hope they willget your business. I know, Its been 2 months since I formed mine and got only 1 line of credit so far. This process takes a while, it is not an overnight thing.
I haven’t been through the link for the 200k unsecured line of credit as of yet, but I will tell you all that it’s much easier to get these unsecured lines of credit through those who actually know where to find them. Currently, my company offers several different lines, up to $100,000 unsecured each. They don’t show up on you personal credit report, but you need to have pretty good credit scores in order to get them. The application is completely STATED. Only your credit score is actually verified. Rates are anywhere from prime + 0 to prime + 4, depending on the strength of the application, and of course, they’re revolving, so you can use them over and over.
The lines aren’t for everybody, but if you know what you want to do with the money, these lines can be excellent financial tools.