Posted by Mark (Atl) on February 27, 2002 at 13:24:53:
BB&T was who I got it from. I had to move my business accounts to them, which I might have done anyway, because they are very small business friendly. They offered an interest-only payment option which is essentially a hard money type loan but for a much lower interest rate and no points. However the line of credit is not backed by any property, just my personal guarantee.
Business Line Of Credit - Posted by Rich Lehman
Posted by Rich Lehman on February 19, 2002 at 14:00:55:
Is this a good deal or bad deal for a new LLC that has been established 9 months. Has anyone worked with Reliance Capital Mortgage & Investment Corp. (Pittsburgh, PA)
$85,0000 credit line
Maximum loan amount 1st loan $35,000
Interest Rate: Prime + 3%, ie 7.75%
Collateral: N/A
Income Verification: No income documentation required
Maximum loan amount 1st loan $50,000
Interest Rate: Prime + 2.5%, ie 7.25%
Collateral: N/A
Income Verification: No income documentation required
They would like $8,500 one time set up fee. (10%)
Any feedback would be appreciated.
Re: Business Line Of Credit - Posted by Mark (Atl)
Posted by Mark (Atl) on February 20, 2002 at 13:55:59:
I would check around some more. I am in Georgia and got a no collateral business LOC (personally guaranteed) for prime +2 and a $270 set up fee. I requested a smaller line and I have a high FICO score.
Re: Business Line Of Credit - Posted by LeRoi
Posted by LeRoi on February 27, 2002 at 12:56:47:
Saw your post on Creonline.com.
What company did you business line of credit from??