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12-22-2022, 02:16 PM #1
- Join Date
- Feb 2022
- Posts
- 27
Who can do a large unsecured LOC?
Have a client doing over $900mil a year looking for an unsecured line of credit. Has been in business for over 20 years.
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12-22-2022, 02:20 PM #2
- Join Date
- Feb 2017
- Posts
- 3,463
100% unsecured lines go up to $150k, that's not what the merchant is looking for. By "unsecured", does the client mean no PG? Do they mean no hard assets? Do they mean no personal property (home, cars, etc.)? There will certainly be a UCC on the business if they want something significant that matches that side. I'd be happy to help you here, but "unsecured" is a widely overused and misunderstood term. There are plenty of lines that are "unsecured" - Some require PGs, some don't. Some need inventory, some need AR. Is the business already encumbered with debt and they can't pledge it again?
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