These aren't exactly business lines of credit but I recently came a cross a source for Venture Capital (VC) that will lend $100M or more. They want 30% of the equity. That's much better than many other venture capital sources. They can fund as quickly as three business days if you give them all the info they need up front.
As I stated, they only want 30% of the equity. So they aren't going to make a grab for control of your business. The fact is, they don't want to run your business. If they aren't confident in your teams ability to adequately run your business, they wont invest in it.
So, what you need:
1. A good product or service
2. A good market for that product or service
3. A good business plan
4. A good exit strategy
5. A good team
If you have all five of these, they will consider your application.
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As I mentioned in This Post, lending has tightened up in business lines of credit. I just got word that the lenders that provide the larger lines of credit have frozen their accounts and will not be providing their lines of credit in the near future. |
Jeff Miller
I have a degree in Economics and an MBA. I worked for a private money lender for 13 years and was a real estate investor for 4 years. Categories
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