Have you used an Unsecured line of Credit through your LLC?

[Account Closed]

Hi Everyone,

I was wondering if anyone has used a business Line of credit? Someone in my REIA brought it up and I'm very curious about it. This company offers an 8 % for the line of credit extended, for example, a LOC for 50k would cost me 4,000 upfront and the rates are somewhere around 12 %.

I understand the concept itself. But it sounds like it would be a cheaper option than HML over the long run considering that you're only paying for points once.

Thanks in advance!