The predominant solution employed is unsecured business lines of credit.
MSinvestments™ represents a consortium of aggressive financial institutions located throughout the country. Some are national, some are regional and others are local in their lending capabilities. Some financial institutions will provide a maximum of $50,000 and others will provide a maximum of $1,000,000.
All of these lenders will provide unsecured business lines of credit and all of their applications are stated income and stated asset. This simply means they do not require personal or business tax returns or business financial statements when submitting their application. However, the lenders do reserve their right to request them or any additional information they deem necessary.
The lenders will make a loan to a business/Investor(s) in “good standing” and registered with their Secretary of State for 2 or more years.
The current ownership must be in place for at least the past year. Each lender requires a personal guarantee from each person owning 20% or more of the business. There must be a minimum of 85% ownership represented on the application.
All parties on the application must have a verified minimum credit score from all credit bureaus of 680 or higher. Their individual credit reports must be clean and clear without any lates, liens, judgments, collections or bankruptcies.
