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    2 Replies Latest reply on Mar 23, 2009 1:07 PM by LUCKIEST

    What is considered to be collateral? Do I need money down?

    bradie Newbie
      I am looking into buying a fully established and running business. I would need a loan of about $70,000 and I do not have ANY money to put down. I am not even sure that I would be approved for the loan on my own. I may need to have someone I know who owns a couple companies back me up. If this is possible would I still need money to put down. Also we just bought a house 2 years ago and have no equity yet, can I use this house as collateral? Sorry for my ignorance but this is my dream business and this is all new to me so any help will be appreciated. Thanks!!