Funding Solutions Recommended
Businesses that have access to funding can make things happen. Some people reach into their own pockets to expand their businesses and others look for sources so they can use other people’s money to grow their business. I’m not going to debate the merits of each approach, but if you’re looking for funding from somewhere other than your own assets, here are a few sources that I can recommend.
This is important. I have worked promoting all of these sources on line in the past. Some for years. I have come to know the key people involved and wouldn’t pass along my recommendation without feeling totally comfortable with their integrity and also their ability to get the job done. I am talking about three specifically different types of funding.
- Unsecured Credit lines – You can can work with these folks to get your own unsecured credit line up to about 1 Million dollars. Use the funds as you like… It’s a revolving credit line so there’s maximum flexibility to get what you need when you need it.
- Hard Money Lending – If you’ve got a potential deal in your crosshairs and you need to close quickly, this is the way to go. You must have some real estate assets. This includes purchases, Refinances and Cash-out situatioins.
- Working Capital – Do you have an ongoing business and need to improve cash flow. This might work for you.
Unsecured Credit Lines to 1 Million
when it comes to unsecured credit lines, I’m a big fan of bugdougfunding.com. Doug’s program is different as he works with you and shows you the way. He has weekly conference calls and is there to get you through the process.
It is a process and you get a variety of credit lines with varying interest rates, but you only use what you need and have it available when you need it. It just makes sense. He charges a monthly fee for membership but that’s all you pay.
For more information visit INTENTIONALLY DELETED – Update 10/26 Bugdoug has closed its doors. He’s working it out with people already in the program but they’re not taking on any more clients.
I have nothing but good things to say about this program, but you should watch the videos, listen to a conference call and you will get all the details. I know it works because Doug has delivered for numerous entrepreneurs and has lots of fans.
Hard Money Lending
When you’re looking for hard money, talk to Daryl. He is the money guy, because he has access to a private source of funding that doesn’t require all the usual hoops and hurdles to actually get funded. This means, you have a reliable source of funding that you can access and close on deals in 7-10 days. Think about that kind of horsepower.
Deals to $25 Million
Serious funds are available for your project. Typical transactions close at about 60-70% LTV. Interests rates vary, but hard money is slightly more expensive than conventional lending, but a 10% rate for the short term without pre-payment penalties works when you have to close a deal fast.
When you’re seeking capital for equipment purchases or leasing, Thomas at Merchant Xpress is the guy. I’ve worked with him for several years and he can get it done. He has a variety of programs, that provide maximum flexibility for a solution. For more information, drop me an email and I’ll put you in touch.
If you’re a regular reader, you know we don’t put the stamp of approval on a product or service unless we’re absolutely convinced that they’re worth the money. In fact, it’s depressing how many things we review that turn out to be garbage. So, I’m kind of happy that I can pass out the kudos to these quality business people. Make sure you let them know where you heard about them. 🙂