Business Lines of Credit

Financing, Hard Money Lenders, Private Money
1

Has any one had any success in getting Business Lines of Credit by establishing a LLC. There are several internet based companies that want to sell you a system to build Business Credit Lines. Then use the credit to make cash purchases of distressed property. Fix and Flip. Pay off the Credit Lines and pocket the profit. YouTube is loaded with thes companies. Just wondering if any REI Club members could recommend, share success or failure attempting to get Business Credit.

2

I have noticed the same thing. Please keep me posted of any findings.

3

There are different types of Business Lines of Credit and Business Working Capital loans that you can get, and put in your company’s name, but you may need to personally guarantee it. We offer many different LOCs and they all have different criteria.

4

I would stay away from them…their costs are a little high considering you are doing most of the work…

5

My personal credit is kinda shakey. Im in the process correcting it.

I now have a Tax I.D. number.

How can I go about establishing credit in my business name. under my tax I.D. number

6

I found a business credit funding program online called Bug Doug Funding. It looks like a much cheaper option to raise a lot of capital compared to the other programs out there. Has anyone ever heard of or used Bug Doug Funding for business credit?

Thanks,

Craig