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    5 Replies Latest reply on Mar 5, 2011 4:11 AM by DavidPromo

    Obtaining a loan with 40K collateral

    Newbie

      I am looking to start a non-medical senior care company. I have my business plan in place but I need to borrow approximately $65,000.00 for start-up cost. I have been unemployed for approximate 6 months, have exhausted most of my 401K and my credit is taking a nose dive. My spouse does not want to use house as collateral which is understandable with the economy the way it is. Are there investors that are giving loans even when I am using 40K of my own money. I tried SBA and recieved little help. I was told by SBA that your credit score needs to be over 720.
      Thanks