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Sure one can use credit cards, but the *below market*, and *fixed* rate on *unsecured* debt is fairly unique. In fact, I don't think there is anything even rem
by hcknwscommenter 3y ago
Sure one can use credit cards, but the *below market*, and *fixed* rate on *unsecured* debt is fairly unique. In fact, I don't think there is anything even remotely like it available today. But do let me know. I too gorged on that First Republic Product and I miss the good old days.
For high-net worth individuals it's pretty easy to access significantly sized pledged asset lines of credit, portfolio margin loans, and the like but that's secured debt, often (but not always) variable rate, and the rates are not great.
When interest rates were zero-ish, you could get low margin rates, but again, not fixed and secured.
- nocoiner 3y agoSorry for the late response - if you see this, I think Citi private bank still has some pretty cheap unsecured loan products. Agreed, credit cards are a different beast and not as borrower favorable as those lines of credit, but probably with 10 years of responsible credit usage and a decent job could put enough on credit cards to bootstrap a startup with $0 outside equity. And there’s always the Argentina put if it doesn’t pan out.
- hcknwscommenter 3y agoThanks for any response! I talked to my citi private bank rep. He was quoting ~8% rates on asset backed loans. Seemed a bad deal to me. I find that citi is a bit negotiable, so if you are getting quoted significantly better rates let me know!