Business credit

[JFGLN]

Things have changed. Three years ago I made a phone call to set up a line of credit for my business. We are set up as an S corp. They approved us for $10,000 on the spot over the phone. Well now its set to expire in Jan, so I call to renew it. Its not so easy this time. They requested a lot of info including 2 years tax returns. After several e mails and phone calls she agrees to renew the loc but first she wants to have a conversation about my personal credit.

[JRSlawn]

Credit is extremly hard to get right now I have around 60k of equity in my house and I can't even get them to give me a home eq line. I was looking to expand my business in the spring and buy some new vehicals but I will just have to wait and see I may have to buy all new. These banks are acting crazy right now.

[JFGLN]

Had my conversation with the bank today. Loc was renewed.:clapping: I can see now why so many business are having cash flow problems.

[Frontier-Lawn]

Had my conversation with the bank today. Loc was renewed.:clapping: I can see now why so many business are having cash flow problems.

ya i have had to dip into some SSA money to stay afloat.

[360ci]

I've had my fair share of problems. I went in to see about getting a $80K line of credit for a new vehicle, since all my money is utterly tied up until May of next year when some funds come due. I've paid cash for my second house, and own both outright. I've almost always paid cash for everything and the banks tell me I have no credit, only because I don't use cards. I thought it was funny until they denied my line of credit for $80K and offered my $75. I told them to shove it and am shopping around at other institutions. I'm sure the guy that denied me had a good laugh for the sake of $5K! Idiots.