Any luck on corps with established lines of credit

Hey I just wanted to see if anyone has succesfully got a corp with established LOCs. I have talked with a few companies that offer the program but just wanted to see if anyone has had any luck. Thanks
In General Area - Asked by Ty C. - Feb 19, 2009
Report Abuse
Answer this Question

Answer(s)

Jean N.
Owner/Investor
Brooklyn, NY

I never had that experienced. I build my own corp and guarantee the line of credit. I yet to find any companies that allow you to get real NO PG line of credit (Cash). Most offer the Lowes HD, Staples etc., so becareful. If you find any successful company like hat, let me know

Feb 19, 2009
Report Abuse
Joe V.
Owner/Investor
Plymouth, MI

Yes. There are many out there, but you need to make sure you have a money back guarantee and the company you buy (with the LOC's attached) has all the plans (business, marketing, financial and investment) as well so you can maintain it.

Feb 19, 2009
Report Abuse
mark a.
Pottsboro, TX

Ty, I believe you responded to my previous question about shelf corps with attached LOCs. You described speaking with a company that could provide a shelf corp with a 1.3m+ LOC, paydex 80 score, buyer becomes CEO and company provides CFO, funds available in 2-4 weeks for a setup fee of 24K with 10% on the backend. If this is correct, will you please email me the contact information for that company as well as any other companies that can provide the same or similar services? My email address is markadair@sbcglobal.net. Any help you can provide will be greatly appreciated. Thank you.

Feb 22, 2009
Report Abuse
Joe V.
Owner/Investor
Plymouth, MI

I know of a couple of them that I have used. The key is to make sure that they are actually offering bank LOC's and not just credit lines or credit cards. Also, to make sure it is a non-signatory in nature. This way your credit score doesn't matter going in or while it is being used. They are then non-recourse as well.

Feb 28, 2009
Report Abuse
BTS B.
Owner/Investor
Chicago, IL

I am a newbie who has not done a deal and that speaks my experience. I am just curious that with the current credit crunch and the lending community has to know all about the existence all these shelf companies. From the lender perspective, why would they dumb enough to loan you money on non-recourse if they know you are a shelf company? How can you get away with that?
F.Y. - Chicago IL

May 14, 2009
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question