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02-10-2020, 10:51 PM #1
- Join Date
- Mar 2019
- Posts
- 105
Building Business Credit to Get An LOC to Use For Syndication As An ISO
Coming up on our 1 year in business and I'm curious if any ISO shops have an LOC with their local bank to use for syndication. I imagine this is unlikely, but thought I would see if anyone has success with this.
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02-10-2020, 11:21 PM #2
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 574
The issue isn't getting the LOC, it's getting an amount that's sizable enough to consistently participate in a nice amount of deals, (not just 1 - 3 small deals a month), and one that will grow as you do. Most don't, and you typically see lenders moving up from investor to investor/institution.
Local banks also don't get too excited when you tell them you're borrowing money to in order to lend it (some will auto-decline if you say that), so try to give them another business reason (that's plausible, and not a lie). But either way good luck.
I have a few possible options for private investors, feel free to reach out.
917 727 1624
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02-12-2020, 12:30 AM #3
- Join Date
- Sep 2019
- Posts
- 402
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02-14-2020, 09:23 PM #4
- Join Date
- Jun 2017
- Posts
- 2,049
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