Financing For All Beginning Wealth Builders

IS THERE A UNIVERSAL BUSINESS FINANCE PROBLEM? Talk 10 Beginning Wealth Builders and they'll say, YES, there is! And what's the universal business problem? It's:

* Finding money for a startup busiess or for the down payment on an income real estate property

* When the Beginning Wealth Builder does not have the best of credit. Or if he/she has good credit, they do not have any collateral to secure the loan--that is, keep the lender happy.

* And lenders want the Beginning Wealth Builder to "have some money" in the deal--that is, put up some cash.



WHAT IS THE ANSWER? How can a Beginning Wealth Builders get the cash he/she needs to buy a business or a piece of income real estate? The answer we see today--more and more is this:

1. Use credit-card lines of credit to give you the money you need for the down payment.

2. Tapping into more than one line of credit to build up enough cash for the needed down payment or other cash input for the business.

3. Being certain that you can repay your credit-card debt before you use money from your lines of credit to invest in any business.

4. Knowing that you never need give a reason to your card issuer because you are allowed to use the money in your line of credit for any purpose.

5. Using you line of credit by just writing a check or getting the cash from an ATM--Automatic Teller Machine and using the cash to get a money order for the purpose(s) you want to use it for.



TO GET MULTIPLE CREDIT CARDS you should apply at a number of different banks. Many of our readers tell us that their lines of credit on their cards add up to $100,000. For instance, if a person has 20 credit cards, each with a $5,000 line of credit, his/her total line = 20 x $5,000 = $100,0000.



BANKS IN MARYLAND AND DELAWARE seem especially interested in issuing new cards to people throughout the country. So if you're looking for more credit cards, apply to such banks. You will--in general--be welcome. And--hopefully--you'll get a nice line of credit which you can use for your needs. Remember:

* Banks are willing to issue new cards to people who already have other cards because such folks are usally better credit risks.

* Banks are willing to issue new cards to first-time card holders because this gets a person started using cards--which builds profits for the banks.

* Banks are willing to accept less-than-perfect credit when they're trying to issue new cards and you have good reasons (illness, job loss, etc.) for the credit situation.