Business Line of Credit Recommendations

6 Replies

After reading a lot of post here on Bigger Pockets and having a few offers thrown my way, I have decided that I would like to pursue obtaining a business line of credit for my LLC. Does anyone have any recommendations for reputable companies based on real life experience with them? I see tons on the internet. I'm looking for the best deal of course, but some just seem TGTBT.

Thanks and appreciate any input!

Regards,

~ Niko G.

8777000577

Open up a corporate bank account. Take it from there.....

Pretty much every bank that has business accounts provides business credit cards. Find one with a reward program you like and go from there. I exclude any of them that have a yearly fee because I would never get enough benefit from those programs at my current size.

Good luck in your business!

Medium logoBryan O., Note Capital | http://www.notecapital.us

Thank you Bryan.  So it seems the banks still may be the best way to go rather than some of these other lending companies out there offering credit lines?

8777000577

Find a small, local bank. That is what I used for my husiness and the LOC for my business.

What if the LLC has just been established and has no track record, sales or profits? Would it still be eligible for a business line of credit/business credit cards from an established bank? Or does one have to pursue, in this instance, a business line of credit through some of these other lending companies?

Also, do the banks charge success fees and if so, what is an acceptable %? 

Bonnie did you ever find an answer to this ?