Tom Kish

Has anyone taken Tom Kish’s course “Business Lines of Credit” and if so, were you able to get unsecured lines of credit with no personal guarantee? I checked with US Bank and they want business & personal financials and a personal guarantee.

I haven’t taken his course but saw his website…i think it was a click from here…

Sounded like he was just trying to sell his 'special list" of lenders to you…But how could lenders give you $50k each without a personal guarantee???

If it sounds too good to be true, …you know the rest…

Oh, there is going to be a PG, especially for a new company. It just doesn’t have to be YOUR PG!

Unless you just have to have the “bankers’ list,” save your money (hint: You may already have the BL, just don’t know it. Simply look thru your junk mail everyday for CC offers to your business).

Short summary: Start company, convince other people you know what you’re doing and have them file for CC’s in the company’s name. Max out CC’s by taking cash advance. Deposit in checking account. Now you have plenty of money to buy houses cash (and alot of high interest debt payments to pay, unless you intend on ticking off alot of people :shocked)

This may have been a winner in years past, but not so now with the credit card reform (minimum pymt increase) of today. Getting the promised $200K in cash advances on CC’s will get you about a $6K/month bill.

Personally, I’d rather take the $200K loan for $1500/month!


i second that.

if you want to convince people you know what you’re doing - have them give you the cash and return a favorable interest rate - balloon payment upon completion of project. business carries the note(s) - say 6 months and pay when you move the product.

finding these type of people AND convincing them you know what you’re doing - that’s the real challenge.

people with cash looking to invest with 10% return are a dime a dozen.

you’ve also got to speak with an attorney about all of this (or you should).

When I formed my first entity [I’ve had or have several] - and when I incorporated one of the businesses [around 10 years ago] I was told by a friend of mine that credit would be easily available IN MY BUSINESS’S NAME just because of the fact I created a corporation. Wrong. LOL. And most of those guys who say they can get you quick credit in your -business name only- are going to get you lines of credit that are not worth anything to you OR have an extremely high interest rate.

You have to personally guarantee almost all of your new company / small business loans…the exception to that would be if you have lots of investors and are a huge, huge company taking out a small loan that’s a fraction the size of what you really could borrow…or if you had assets to guarantee the loan…e.g. you had a fully paid off car wash and wanted to get another loan, and you guaranteed the new loan with your equity in that original car wash…or rental house…or apartment complex…etc. The banks want to protect themselves, and they sure are good at doing it from what I’ve seen.

Am I the only one not having problem getting funding for my LLCs? I am turning down CCs left and right. I am thinking of converting my personal LOC to company LOC. Now, as far as non-recourse goes, so what? it is not reported on your personal report. If you are afraid of not being able to pay it back, then don’t borrow it.

what is the most efficient way to raise a LLCs credit?

Does anyone know alot about Shelf Corp or Shell Corps. This is where you buy a already established company and get all the financials. Some will sell you the companies with trade lines and lines of credit. Other companies will sell you the company and then sell you the credit package with it. Has anyone bought one yet? Just curious.

Large law firms used to (and maybe still do) maintain empty business entities for a number of years by simply paying the state franchise fee or whatever other minimal holding expenses each year…Their clients could then buy one of these entities to start their new business and proclaim from day one “We are a 10 year old company!”…Legally, the company was 10 or 20 years old but with no activity…

If somebody’s telling you that you can buy the associated “financials”, I don’t get it…Financials are the recording of somebody’s business…And, especially in today’s world, I don’t know how anybody could “transfer” their credit to you when you bought one of these company name…

Sounds like they may have made some phony responses to a Dunn & Bradstreet phone call to install some phony numbers…And that would “transfer” to you automatically when you bought the entity…D&B used to call me years ago when I owned restaurants and asked me what my financials were…Do you think I gave them real numbers or inflated numbers? :deal This is one reason I don’t give a lot of weight to the D&B reporting of small companies…

First, I think somebody’s just trying to promote their hype and sell you something that’s worthless on paper, and when it comes time to actually produce your own financials the real deal is actually exposed to the bank…

I’d stay far far away from this…

What about Business Credit Services at
Anyone had any experiences to share with this company? They are partnered with the IRS and have a link on the IRS website so they must be legit. After 6 months on their program, you should be able to get up $100K of biz credit which is not tied to your personal credit.