Business Line Of Credit To Fund A Deal

8 Replies

Hey,

I am curious if anyone has used a business line of credit to fund a deal before?

I own a business and I get marketed all the time with 50K-100K approved line of credits on the business.

If you have, how do you use it properly and safely?

(I'm a newbie)

Thanks!

@Hai Loc I was presented with an unsecured business LOC and was told it would be in the form of multiple business credit cards. One way to convert to cash is to have a vendor charge your card and have them send the 'cash' to your bank account. I felt this was rather fishy and didn't know if anyone else had dealt with something similar.
@Hai Loc Do you mind sharing a bit more about how you used the CCs? Did you do cash advances or something different? I'm researching ways to fund a deal knowing the property won't qualify for a conventional mortgage. I have cash saved as well. Thanks!