I am looking for a line of credit or similar for a client. Excellent credit, own 3 7-11 stores, net mo profits good, small mortgage, 3 yrs in business, $150k in business related debt, want to pay it off with a $250k credit line. Can be personal or bussiness line.
I’ve been told by others, that commercial/retail related and PLoC are very tough to find. Any pointers would be appreciated.
I got screwed and lost upfront money by a company that claimed it could create 500+K in credit lines secured by my personal credit. There are a lot of options out there to use personal or business credit, even new LLC credit lines. I would be very careful and would find someone who has successfully been approved. I would avoid paying any upfront fees, points or payment on the backend is fine. Your client may have the best results just walking into all of the local banks and asking what they can do for him if he has strong financials.
PM me. I know a guy who was charging only 3 pts which is way less then anyone else I saw and seemed very honest.