Unsecured Business Line of Credit -

[Boris Peyzner]

Has anyone successful obtained an unsecured business line of credit for an interest rate that is closer to single digits?    If so, can you share both the financial institution you worked with and how you went about getting the loan.

I was planning on putting together a binder that has a summary page and behind the summary page I would have all my data.  I planned to have a profit/loss statement for the past 3 years together with all of my real-estate that i own, pictures of the houses, leases to back up the rentals, and my finances all with a table of contents.  I wanted to then go to some small local branches to see if I can get $100k or for an unsecured line of credit.  I don't need the money but it is more for a rainy day.  Is this a good idea?

[Account Closed]

Not single digit interest, more like 10% but unsecured and up to $300K.  Based on your credit score and of course nothing crazy on your credit.  About 3 weeks to fund though because they are banks.  : /