Urgent! Startup Capital for Excellent Credit!

**Fundyman** · 03-02-2016, 04:41 PM

If a client with excellent credit needs $50K to take over a beauty salon. Has city cab income. Is there anywhere or anyway to get this guy funded that amount of capital within a very short period of time?

Just throwing it out there because I got a request. Please PM asap if you know how or whether or can be done.

**bsmith** · 03-02-2016, 04:50 PM

If his city cab income is strong enough to support it.

**Fundyman** · 03-02-2016, 06:07 PM

$40K/annual from cab job. However, not incorporated or with EIN. Might be far-fetched... I have no clue.

**CO1** · 03-02-2016, 07:11 PM

Get a start up BLOC

**bsmith** · 03-03-2016, 09:30 AM

A BLOC or UBLOC is going to probably be your best bet but even still the funding may not meet your "very short period of time" deadline. You're talking anywhere from 1-4+weeks to get him the money if he gets approved.

**dailyPLUNDR** · 03-03-2016, 09:40 AM

I got an email from either Upstart or SoFi, cant remember which, in the last week saying they could provide up to 50k. It's a personal loan and I honestly doubt he'll see the full 50k on a 40k annual income, but they could potentially get a solid offer in a short time frame.

**Fundyman** · 03-03-2016, 10:45 AM

Originally Posted by dailyPLUNDR

I got an email from either Upstart or SoFi, cant remember which, in the last week saying they could provide up to 50k. It's a personal loan and I honestly doubt he'll see the full 50k on a 40k annual income, but they could potentially get a solid offer in a short time frame.

I really appreciate that info. Thanks, and to all you guys as well, thank you!

**NewWay ISO** · 03-06-2016, 12:54 AM

Try a personal loan from Citi Bank

**RichardGerard** · 03-06-2016, 08:29 AM

For personal loans (if that's the direction you're leaning towards) go to Lightstream.com (Sun Trust Bank's anything loan up to 100k), Prosper.com (to 35k) and Lendingclub.com (35k as well)..

Clients can look into ROBS plan (retirement ROLL OVER AS BUSINESS START UP) which allows them to use retirement funds for their own business- without a taxable event.

The business credit card plan that Midwest Corporate Credit or The Finance Store does is easy to do on your own, and you shouldn't willingly give them commission without knowing the specifics (which aren't challenging). It's about unsecured credit ratio and cards that don't report to personal FICO scores after initial inquiry.

Understand this: start up finance is time consuming, and not that profitable, unless you have volume

**Fundyman** · 03-16-2016, 02:18 PM

Originally Posted by RichardGerard

For personal loans (if that's the direction you're leaning towards) go to Lightstream.com (Sun Trust Bank's anything loan up to 100k), Prosper.com (to 35k) and Lendingclub.com (35k as well)..

Clients can look into ROBS plan (retirement ROLL OVER AS BUSINESS START UP) which allows them to use retirement funds for their own business- without a taxable event.

The business credit card plan that Midwest Corporate Credit or The Finance Store does is easy to do on your own, and you shouldn't willingly give them commission without knowing the specifics (which aren't challenging). It's about unsecured credit ratio and cards that don't report to personal FICO scores after initial inquiry.

Understand this: start up finance is time consuming, and not that profitable, unless you have volume

I definitely appreciate & understand this Rich. At this point, I'm only doing this to help a friend of mine who actually wants to save her business. A friend of hers is actually willing to buy the business. Otherwise, I really wouldn't bother...

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