Hi, all -
I have been the credit provider (via American Express) for a small business for a couple of years. I am going to be closing the account and am trying to determine how much time the owner of the company will need to get access to a credit card (he needs the card for travel arrangements for the technicians who travel around the country). The glitch is that the owner of the company does not have good personal credit. The company itself is debt-free, does about $150k in revenue monthly and is very profitable. The owner is claiming that he has no other credit options -- that if i take away the American Express, his business will grind to a halt. I assume that he could get a business line of credit from a bank that could provide him a credit card to replace the Amex. Am I off-base in thinking that 2 months is enough time to allow him to get alternate means in place?
(I'm not involved in the everyday dealings of the business; we had a personal relationship that went sour and I need to sever the financial ties but don't want to do his company harm)
Much thanks
W
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