Hi all, I’m wondering if any of you can recommend a good place to go for lines of credit?
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Hi all, I’m wondering if any of you can recommend a good place to go for lines of credit?
Blue vine ,headway and odc
Thanks achi
You can find an LOC through Become's marketplace - they've got 50+ lenders in their network and they use their algorithms to find the lenders that are best fit to your business's financial needs.
There was just a thread on this https://dailyfunder.com/showthread.p...ht=line+credit
Headway works with brokers/ISO's now?
All you need to know.Quote:
Originally Posted by Michael I
This worked for me.Quote:
Originally Posted by Ben Shabat
Always had decent success with BlueVine. Got an email that they are funding LOCs again.. has anyone gotten anything funded with them recently?
Have a $100k monthly offer for 15.3% on the table right now, waiting for the client to get the PO he needs to draw.Quote:
Originally Posted by killerspin
They updated their requirements. Min 3 years in business. Even a clean deal their computer UWs wont consider anything less than 3 years in business.Quote:
Originally Posted by killerspin
It appears BlueVine secured a new or extension of their credit facility.
Happy to hear it! I see a lot of people speaking about BlueVine - just wanted to mention that in Become's marketplace, Fundbox is also offering LOCs. Given the current economic situation related to COVID, they're offering LOCs specifically for e-commerce businesses.Quote:
Originally Posted by Jeremy Lang
Any other lenders that offer larger LOC or ABL? 500k-1M++??
yepQuote:
Originally Posted by brokerCompany
Hi Kevin. I understand you only invoice factor and prefer your ABL to be over 1.5M. These particular deals probably not in your box. 900k monthly and only 1 client with state of texasQuote:
Originally Posted by Kevin Henry-Seacoast
It will be very hard to find a legitimate lender that will offer a LOC or ABL deal for a company with one debtor. ABL/LOC is almost non-existent for a company with 100% customer concentration. Usually non-bank lenders will set limits at a maximum of 50%.Quote:
Originally Posted by brokerCompany
-Have you credit checked the debtor to see if they are eligible for credit insurance?
-Does the balance sheet support the debtor if they don't pay?
If the answer to the above is no, you will have a tough time even finding a legitimate factoring deal for the company.