[Peter Parker]

Hey everyone, I spoke with a client making around $80,000 to $100,000. He already has options for an 8% loan and is interested in anything less than that, as well as a line of credit. To the older guy, I know it's Tuesday; your magic lamp won't work. I don't want anything to work, I just want to see if there is anything that can be less than 8%.

If yes then tell me what information you need from him. I hook you up with it.

[Olderguy]

No you can't. Not worth chasing. I'm getting 6% if I want from American Express. SBA 504 is in that range but not for those specifications. Maybe someone else here has the magic potion to spring this deal loose.

[brokerCompany]

Hey everyone, I spoke with a client making around $80,000 to $100,000. He already has options for an 8% loan and is interested in anything less than that, as well as a line of credit. To the older guy, I know it's Tuesday; your magic lamp won't work. I don't want anything to work, I just want to see if there is anything that can be less than 8%.

If yes then tell me what information you need from him. I hook you up with it.

ZERO percent interest credit card

[Peter Parker]

Thanks for the insight

[Peter Parker]

No you can't. Not worth chasing. I'm getting 6% if I want from American Express. SBA 504 is in that range but not for those specifications. Maybe someone else here has the magic potion to spring this deal loose.

Thanks for the insight

[Peter Parker]

ZERO percent interest credit card

The client is looking for a normal business loan, Not CC but thanks anyway. I'll move him to achieve

[Olderguy]

The client is looking for a normal business loan, Not CC but thanks anyway. I'll move him to achieve

You can transfer funds from the CC to business account at a 6% fee I believe. But there is a fee for the CC.

[Peter Parker]

Hah ! Really? How does that work? Doesn't it affect the credit score? And about the fee, Is it one time?

[abfunders]

Hah ! Really? How does that work? Doesn't it affect the credit score? And about the fee, Is it one time?

If you use business credit cards that to NOT report to the personal credit (as long as they're in good standing), then no, it doesn't affect the personal credit. Just like a business loan/SBA doesn't show up, even though there's a PG behind it.

[abfunders]

But it's not as expensive as Steven makes it sound to be.

[brokerCompany]

AMEX And Chase dont report to personal credit

[Peter Parker]

Okay, correct me if I am wrong. I understand there is a small credit card fee. So, when my client takes out $30,000 from the credit card, and the fee is $1,800, I got that part. However, there would be a window to pay back that money in 45 days. If they don’t pay it back within 45 days, would there be any additional rates like 30%, or is it only the 6% fee?

[Peter Parker]

I know I’m asking some questions that might seem obvious, and that's because I'm really new to this. I appreciate you guys teaching me and helping me grow. I really do.

[abfunders]

AMEX And Chase dont report to personal credit

That's not true. It depends on WHICH Amex and Chase. Even the CapOne business card reports to all 3 bureaus!