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re: Funding Sources

Posted on 6/20/15 at 10:54 am to
Posted by PrettyLights
Member since Oct 2014
1164 posts
Posted on 6/20/15 at 10:54 am to
Try contacting a local or state wide bank. They will typically offer you a line of credit with a maximum up to 80% of your receivables. You will need to prepare interim financial statements each quarter and submit yearly financial statements. Depending on your situation they will most likely secure the LOC with a IDOT (Indemnity Deed of Trust) on your house and personal assets which will be reflected on the personal financial statement you will need to submit to the bank.
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