10x Line of Credit?
Has anyone heard of lenders offering a 10x line of credit based on a held CD?
A friend in the flip business is currently negotiating to get a line of credit in the amount of 10 times the amount deposited in a CD and I’m wondering if anyone has experience with this type of arrangement (so he would put $100K in a CD and receive $1 Million in a credit line). In my initial searches I can’t find any lenders offering this type of arrangement.