Business Equity Lines

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msiegrist

13 Posts

Posted - 05/21/2008 : 5:13:51 PM

Is anyone doing stated business equity lines? I have someone that owns a commerical condo free & clear and looking for a stated equity line or stated commerical loan.

Thanks

nickwest

67 Posts

Posted - 05/22/2008 : 01:20:50 AM

we do business lines of credit, it takes a 700 fico and they must have a profitable business the minimum we do is 250,000, but other than that it is not hard to qualify,

as for the condo , that would not even necessarily be used if the guys business is in good standing.

email me if you want work with me on this

here's our brokerage site

www.concordfinancialservice.com

email me back if you want

mortgagemessiah

8003 Posts

Posted - 05/22/2008 : 06:33:06 AM

First, no one offers a stated BLOC at $250k unless it's private money. You will be very lucky if you can get $50k. Most banks are moving away from doing stated programs because of the risk.

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