Results 1 to 7 of 7
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01-30-2019, 05:28 PM #1
- Join Date
- Nov 2018
- Posts
- 3
Startup Company requesting 150k LOC for creating company and starting operation.
Hi all,
I am quite new in this space, and I have been meeting quite a bit of startup companies looking for funding. Which I know to refer them for LOC if they do not have collateral.
which company is great to work with in these scenarios?
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01-31-2019, 10:25 AM #2
- Join Date
- Feb 2017
- Posts
- 3,473
They're going to need close to a 700 FICO, but email me and I'll make some introductions for you to help you out.
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01-31-2019, 12:10 PM #3
- Join Date
- Aug 2018
- Posts
- 17
Alyssa Akins, COO | Evergreen Funding, Inc. | alyssa@evgfunding.com | 888-344-7522, ext. 101 | www.evgfunding.com
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01-31-2019, 12:39 PM #4
- Join Date
- Nov 2018
- Location
- San Diego, CA
- Posts
- 75
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01-31-2019, 12:45 PM #5
If they have a 700+ credit and sufficient income and debt service via personal TR and personal debt they can go to any bank and get a personal loan or any online lender.
Wells Fargo, lendingclub, BOA..just go to your local bank and get it done. WF does a LOC and some other banks do. Also easy if they have equity in their home
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01-31-2019, 12:50 PM #6
- Join Date
- Feb 2017
- Posts
- 3,473
They can go to a bank, but the questions are the following:
- Will they get enough money?
- Do they know that they can go to multiple banks?
- Will the credit line appear on their personal credit? (Bluevine doesn't, for example, but many traditional banks do, and many do not. Startup loans likely will.)
- Will the bank reject them because they didn't cross their T's and dot their j's? (Wayne's World reference....)
- Do they show enough profit? Are they long enough TIB?
- Does the bank they go to service their industry?
If they're a startup, it's much harder. Credit cards with a good PG and/or personal LOCs with the PG and other income verification are the only way to go.
Like I said, let other people do the hard lifting for you. Don't leave money on the table, and you can focus on the sub-prime. Give me an email, I'll introduce you.
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02-07-2019, 11:35 AM #7
- Join Date
- Jan 2019
- Posts
- 13
I have a program that allows us to provide up to 250k in a LOC for startups. Give me a call and I will explain how our program works. Have a wonderful day.
Senior Underwriter
Jamaal Calloway
Wall Street Capital
Cell-954-607-8040
Office-954-880-1661
e-fax-806-203-4888
jcalloway@wallstreetcapfund.com
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