Does anyone have experience with Shelf Corporations?
- Thread starter ViCiouS
- Start date
the original key to these companies were they were older companies with little debt that you could buy and then you could get loans based on the fact these were older and credit worthy companies -
The problem is that more and more lenders know about shelves and are not lending to inactive shelves - the best company to get is a small older company with good but small income and great credit score -
Good Luck (yeah and most of the people out here are scammers)
The problem is that more and more lenders know about shelves and are not lending to inactive shelves - the best company to get is a small older company with good but small income and great credit score -
Good Luck (yeah and most of the people out here are scammers)
thanks - very first thing I noticed was how many scammers there are.
Right now I'm looking for hidden pitfalls - or the subtle scams. Legit sellers want payment upon successful funding. I'm trying to find out if it can go wrong, and to what to avoid or be careful with
Here is a huge caveat - I know someone who got funding through the Shelf Corp - they had several funding lines opened through a broker - only a few hit - however, because the company is new they often are looking at recourse loans. Then one of the lenders found out some irregularities and basically rescinded its loan - only problem the person spent the money and now they have pay back the loans and credit lines they spent with that round so they ignore the calls and the letters and their score keeps dropping