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How long after you formed your company and started posting profits did it take for the banks to give you the time of day? How much history did they want to see? I'd like to get a $500k loc for my company, since I'm coming up with deals I can't finance now, I lost two in the past month; that's bad business. I'm getting to the point where I want to start getting untangled from private money since it comes with a lot of strings and is expensive. I want something I can just draw on and pay back as I need it. My uncle was saying he has a $3m loc from a bank and its cheap right now like 3%, I kind of want the same thing...well not so big since I just started.
What I'm thinking is next spring I'm starting a road with 3-4 houses on it, when I start selling those the company will be flush with cash, new but still flush. I'm thinking that would be a good time to try for one. Right now I'm to new.
What I'm thinking is next spring I'm starting a road with 3-4 houses on it, when I start selling those the company will be flush with cash, new but still flush. I'm thinking that would be a good time to try for one. Right now I'm to new.
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