Closing next week- lines of credit?
Hey everyone,
im closing next week (finally) on a $4M revenue business. The bank didn’t offer me a line of credit or working capital (only because I didn’t ask for it back when I didn’t know what I needed): Now they are offering it after closing, but only 60 days later, and very restricted access. They are very conservative.
the issue is there are a number of orders rolling in and projected. The Seller is quoting/bidding folks, for orders that will be approved/placed after closing. Right now I’m looking at $100k in material orders I’ll need to place within the first 60 days.
I’d like to see if anyone out there is willing to work a line of credit for working capital through the SBA for me?
