STARTUP FUNDING OPTION 3: PERSONAL LINES OF CREDIT (NOT A CREDIT CARD) • Ability to draw large sums of cash (No cash advance fees) • $25,000 to $300,000 in combined credit limits • 3-6 personal lines of credit in total • Interest rates are in 7-15%
• Flexible minimum monthly payment 2 1/2- 5% (a little higher than credit) • No collateral • Minimum FICO 700 • Personal monthly gross of $3K • Must be able to verify personal income (W2, paystubs, etc.) • Rental income via bank statements accepted • No excessive inquiries
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