Unsecured Line of Credit or Working Capital

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April 02, 2023

by a searcher from Rice University - Jesse H. Jones Graduate School of Business in Houston, TX, USA

Hello,

Does anyone have a suggestion for a unsecured line of credit or working capital? Business is rapidly expanding and needing something to assist in the growth. Unsecured and timely suggestions please (No SBA in other words).

Thank you!

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commentor profile
Reply by a searcher
from Texas A&M University in Johnson City, TN, USA
BlueVine. Not as good as many others you could get, but may be all that's available. QBO Capital is better, use it first because no draw fee, but have BlueVine too, despite the draw fee.

Most searchers will find it hard to get a LOC post close (I did). ^redacted‌ has frequently posted and recommended to have this setup at close for best results. I agree!
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Reply by an intermediary
from Washington University in St. Louis in Chicago, IL, USA
Do you have A/R ? POs? Agree with Alan that there are lots of non-bank options out there but they will be pricier. Depending on the size of the business, longevity, etc you might get a line of credit from a bank, but that is a higher threshold and may have covenants that are harder to abide by in rapid growth.
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