Updated over 10 years ago on .
Have you used Corporate Credit?
Hello everyone,
About 2-3 weeks ago I went to one of my local REIA meetings. The public speaker was discussing about corporate credit and how you can borrow money without affecting your credit score if you set up an LLC.
Has anyone tried this before? He said your credit score needs to be at least 730+ and even if you just recently set up your LLC, you can borrow up to 50K and no collateral is required. However, an 8 % "initiation fee" would be charged (4,000 if a 50k line of credit is extended). Rates vary from 8-14 %. This just sounded too good to be true. Have any of you used Corp Credit before?