This is a specific ask, but does anyone know of lenders who will issue small, lines of credit to new businesses? $100-250k? And by new businesses I specifically mean, legacy businesses that we've acquired via Asset Sale, so they feel like newly formed entities to banks/lenders given the newness of their EIN numbers.
This is something we've run into with a few of our acquisitions, we close a deal on a legacy, cash flowing businesses, I'd like to get a small line of credit in place, purely just to have it if we need it, and most lenders are unwilling to even consider lending unless the business has 2+ years of operating history. Even when we tell them we have decades of financials, it's still too tough of a task.
Ideally these would be non PG'ed lines, but we'd even be open to PGs if we got the right sizing/terms on the loans. It feels like it should be a relatively straightforward ask, but a lot of banks seem resistant to underwrite it. If anyone has any recs, that would be appreciated.
Lines of Credit for New Businesses?

by a searcher from The University of Chicago - Booth School of Business
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