Aged Shelf Coorporation with line of credit already attached..Please Help!

[Glenn Pelt]

Hi Everyone, first time poster here in the BP forum, I'm a newer member and investor and love the info on this website. Anyway here is my question. I have been approached by a company that claims to be able to sell me an 5-year aged shelf corporation from California with a 500K unsecured line already open and attached. The cost is 6K...I have read up on the topic and there is a lot of fraud warnings etc from people who are skeptical about it. I know there are a lot of companies that offer these corps with the claim that you will be able to get credit in the future but what about this deal where there is already a line attached to it? Any advice or input would be helpful.

[Joe Bertolino]

I don't care how old the corp is... I doubt you will be able to get you hands on $500k. Maybe a $10.000 equipment lease or something like that but nobody will give you unsecured funding right now. Business lending is still very tight and without collateral and several years of pristine, reviewed or audited financial statements... you are not going to sniff an unsecured loan over $50k much less $500k. If it seems too good to be true... It is.