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Finding lines of credit in this market

I have a virtual consulting business with little to use for collateral. Does anyone know any lending institution that are lending money.

thanks,

6 Responses

  • Dec 13, 2009

    President

    It is almost impossible to get money now a days.
    I am having the same problem.

  • Dec 15, 2009

    mid career professional

    Need someone to invest in waste hauling company... An investor that wants to be on the cutting edge when the building and construction business rebounds.

  • Dec 27, 2009

    President

    One of my businesses has been denied a line of credit by the bank it has been using. Another bank that is just expanding into our area has offered a line of credit if we open a deposit account with them and keep a reasonable amount in it. We are considering moving a "managed fund" (think of it as similar to escrow) account to the new bank in order to have a credit line available to even out our cash flow.

  • Dec 29, 2009

    Managing Director/Owner

    You may be able to finance your receivables. Look into Coface.com, or a third party finance broker like Ideal Management. Banks and most finance companies require a personal guaranty with collateral or course. Absent that -- thereś receivables finance -- good luck

  • Jan 04, 2010

    Chief Development Officer

    The best information on starting and building your credit line is at creditboards.com. Look for the Business Credit link, or go to http://creditboards.com/forums/index.php?showforum=27. Obviously, it is especially important yet difficult to get commercial credit with no personal guarantee.

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