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Updated over 17 years ago,
Shelf Corporations and Business LOC
I learned about buying shelf corps with established credit today and have been researching like crazy to find a decent company that seems legit to do something like this. I have been calling and interviewing all companies with turnkey operations - shelf corp/credit lending in one. It is expensive but IMO worth it for a 2-3month turn around time. Anyone here done this? What are your opinions on this? It sounds too good to be true.........
I am a sole proprietor that is looking for a business line of credit for new projects. The problem I run into is finding a bank that is willing to give me a decent line of $50k or more (ideally $150k). I have 28 leveraged sfrs (4million) on my personal credit along with 2 interim financing loans for two houses i am building and banks pucker when they see all this. I have a 680 fico due to all of the items on my credit - nothing derogatory, just a lot of borrowed money. I need some capital to grow my business. Any ideas?