Hello people. I've been lurking on this board for a while, and I love the content here. I have several threads here looking for info I'm after scans, but there is such a wealth of unique information that I like I to this thread, hopefully others must feel in my situation start helped. Please give this thread a chance to say no to me to use the ?search function?. I say that in the nicest possible way.
Long story shorter, I formed an LLC in December. I signed a contract with a major company to bury power lines. Anyway, I'm going to buy about $ 20,000 in equipment in about 2 months. I would like to fund it with business credit. My question is, what will the most effective way to build my business credit so that I can purchase this device with a business loan? (In 2 months) I too am by a PG ok, although my personal credit score is only about 650th Last question, there is a lender that I can better than others with success for this type of loan? Thank you for your input. I hope in a positive way to contribute to the collective here in the future.
Reply: Hello folks. I've been lurking on this board for a while, and I love the content here. I've browsed through several threads here looking for the info I'm after, but there's such a plethora of unique info that I feel like I need to start this thread, which I hope will help others in my situation as well. Please give this thread a chance without telling me to use the "search function". I say that in the nicest manner possible.
Long story shorter, I formed an LLC in December. I've signed a contract with a major company to bury utility lines. Anyhow, I'll need to buy about $20,000 in equipment in about 2 months. I would like to finance it using business credit. My question is, what will be the most effective way to build my business credit so I can purchase this equipment with a business loan?(in 2 months) Also, I'm ok by giving a PG, although my personal credit score is only around 650. Last question, is there one credit grantor that I may have better success with than others for this type of loan? Thank you very much for your input. I hope to contribute in a positive way to the collective here in the future.
Look for someone who has a high FICO score and bring them into the company, then go to a local bank and have them PG it until you get higher TL's .Also what state are you in? Folks from around you might know of some local banks that have good lease/loan programs for small bizz's
Reply:yeah, your option would be to go to the bank monday morning with a plan in hand and your contract
i don't see why they would not loan you the $
congrats and good luck.
Reply:Have you thought about going to your bank with this ? I would write up a business plan and make an appointment with my banker and seek his advice.
Craig
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