Anyone have any experience with some lenders in the Tulsa market for LOC's?
We are expanding the company and have relied on investing the cash back that we made (yes I know we might be a rare breed but we hate debt) into it to expand but want to keep our cash flow liquid right now and look to a small line of credit. ANYONE!
quote:
Originally posted by zstyles
Anyone have any experience with some lenders in the Tulsa market for LOC's?
We are expanding the company and have relied on investing the cash back that we made (yes I know we might be a rare breed but we hate debt) into it to expand but want to keep our cash flow liquid right now and look to a small line of credit. ANYONE!
Your best starting point is always where ever you have your business checking if your business has no credit history. They're going to want you to personally kiss the LOC regardless. Just generally easier when your banker knows your cash flow.
Other tip I've seen done, but you have to be very principled and disciplined to use it properly- use a personal credit card or apply for a VISA/MC/AMEX business.
Best of luck.
There is an ill wind blowing on lines of credit throughout all the country. Believe the crash of the market happened in September in 1929.
The scalpers yesterday that bought of credit are looking for a parachute today to cover the purchases committed for yesterday.
I have a debit Visa card and a business refused it today. The said have it changed to a credit card.
I assume that the line of credit they are following is their reaction to the wreaking dollar. The bottom line is in a matter of a split second the money is transferred from my account into theirs but they must assume the transfer will be completed. Instead they want Visa line of credit to back up the transaction.
As 71 advised, you may have to rely of the plastic card industry and use their line of credit.
They refused your debit card? Where was this at?
quote:
Originally posted by shadows
There is an ill wind blowing on lines of credit throughout all the country. Believe the crash of the market happened in September in 1929.
The scalpers yesterday that bought of credit are looking for a parachute today to cover the purchases committed for yesterday.
I have a debit Visa card and a business refused it today. The said have it changed to a credit card.
I assume that the line of credit they are following is their reaction to the wreaking dollar. The bottom line is in a matter of a split second the money is transferred from my account into theirs but they must assume the transfer will be completed. Instead they want Visa line of credit to back up the transaction.
As 71 advised, you may have to rely of the plastic card industry and use their line of credit.
The only way I see anyone refusing a debit card is if they don't take debit to begin with, or if they did before, your debit card is labeled WaMu.
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I have heard Regent Trust being advertised on KRMG as a Bank for Businesses.
Regent Trust
9175 S Yale Ave
Tulsa, OK 74137
Local:
918-497-1325
Hoss quoted.
The only way I see anyone refusing a debit card is if they don't take debit to begin with, or if they did before, your debit card is labeled WaMu.
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The card is labeled CHECK CARD and DEBIT and is backed up with deposits in the thousands of dollars.
I guess the President should be notified so he can puff some more air in the balloon to keep it from bursting.