Yes this can be done, but be carefull. Only sign up for the ones that have a guarantee and have the LOC's already attached to the Shelf Company you are buying, otherwise you may find you are not going to get the amount you want and will have no recourse. If the LOC's are not already attached, you will be walking into the bank with an 80 PAydex, 3-5 years of seasoning, but no relationship with the bank. They will start you off at a low LOC and allow you to work your way up from there...in about 5-10 years, as long as you use and pay back teh LOC on a regular basis, you can be asked if you want an increase. If you want 6 figure LOC's, this could take at least 5 years. The best one I have found is at www.commercialfinanceconsultants.com. They start at around $100k and can have you into almost $2M within about 60 days. The LOC's are already attached. This is what you want.
Dec 18, 2008