Most business owners have heard the saying, “the best time to borrow money is when you don’t need it.” But when you have an immediate need for cash, money just isn’t as easy to get. The solution is to set up a line of credit for your small business before you’re in a cash flow crunch.
A business owner can establish an unsecured line of credit that can be used for any purpose whenever it is needed. Entrepreneurs can go to http://www.GetBusinessLinesofCredit.com to apply for a business line of credit online.
The business line of credit is established based on the owner’s credit score, but uses the business tax id. Therefore, the line of credit does not have a negative impact on the owner’s credit report. A minimum score of 675 is required to qualify for the line of credit. The borrower must also have a credit report free of delinquencies, deficiencies or bankruptcy.
In addition, the business owner must have a corporation or a Limited Liability Company (LLC). At the http://www.GetBusinessLinesofCredit.com site, a business can get up to a $100,000 line of credit, even if they have a brand new LLC or other business entity. An established company can get up to $500,000.
Business Credit Line Solves Short Term Cash Flow Issues
According to Michael Ogorek, an entrepreneur and real estate investor, one of the best ways to fund business growth or to take advantage of investment opportunities is to establish a business line of credit that does not show up on a business owner’s personal credit report. He says that this approach can eliminate the impact of “maxing out” personal credit.
“Almost every small business owner has used his personal assets or credit to fund his business,” Ogorek says. He says a business owner may want to eliminate the personal credit challenge by setting up a business line of credit that will provide easy access to cash when it is needed.
A business can use the line of credit over and over again. Possible uses include:
· Short term cash flow
· Capital investment
· Business startup
· Business Growth
· High Yield investments
· Short-term equity replacement
· Debt consolidation
· Clean up personal credit used to fund a business enterprise
· Business Reserve
Well known real estate investor Ralph Marcus Maupin Jr. (Mark) says that a business line of credit is the perfect vehicle for Real Estate Investors. One of the founders of the National Real Estate Network (NREN), Maupin says that a line of credit is almost a necessity for the real estate entrepreneur or property manager.
“Having a line of credit is the best way to take advantage of quick turn real estate invesment opportunities. When a good deal is there, you have to have the cash to take quick action,” Maupin says. “It gives you a great competitive advantage.”
The National Real Estate Network has identified http://www.GetBusinessLinesofCredit.com as an important resource for its member investors.
Credit lines are available in the following areas:
Alabama (AL), Alaska (AK), Arizona (AZ), Arkansas (AR), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Indiana (IN), Iowa (IA), Kansas (KS), Kentucky (KY), Louisiana (LA), Maine (ME), Maryland (MD), Massachusetts (MA), Michigan(MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV), New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Tennessee (TN), Texas (TX), Utah (UT), Vermont (VT), Virginia (VA) , Washington (WA), West Virginia (WV), Wisconsin (WI), Wyoming (WY) Major Metro Areas: Albuquerque, Atlanta, Austin Baltimore, Boston, Charlotte, Chicago, Chico, Cincinnati, Cleveland, Columbus, Dallas, Fort Worth, Denver, Bolder, Detroit, Ft Lauderdale, Palm Beach, Harford, Houston, Indianapolis, Jacksonville, Kansas City, Las Vegas, Little Rock, Long Island, Los Angeles, Memphis, Miami, Milwaukee, Minneapolis, St Paul, Monterey, Nashville, New Haven, New York, Oakland, East Bay, Oklahoma City, Orange County, Orlando, Philadelphia, Phoenix, Pittsburgh, Portland, Puerto Rico, Raleigh-Durham, Reno, Tahoe, Rochester, Sacramento, Salt Lake City, San Francisco, San Jose, Silicon Valley, Santa Fe, Seattle, Spokane, Springfield, St. Lousis, Tampa, Toronto, Tucson, Washington Dc