Recommended Sources of Funding for $10K?

Question

Hi Everyone!

Does anyone have any recommendations for a source of funding for $10K-$15K? I've checked into a number of companies/firms in the following categories:

• Personal Loans
• Business Loans
• Residential Real Estate Loans
• Hard Money Loans

Unfortunately, many require either personal credit checks or previous year's tax return; however, our business is less than 1 year old, and this is our first project under the business.

We are trying to avoid loans tapping into personal credit if possible, and focus more on the equity in the property. The money is to complete the renovation of our property due to needing to rework much of our old GC's poor quality workmanship. We are confident that we will sell the house within 3 months, so it would be a short term loan. Any thoughts?

Thank you!

Steven Norton · Answer

@Dustin Lavender, thanks for the reference! I have heard of them, but knew they were for personal loans.

Steven Norton · Answer

@Bob Okenwa, thanks for you thoughts! We may end up going that route if we cannot find anything else.

Bob Okenwa · Answer

Hey Steven,

For an amount that low, you may best be served with opening a credit card or two with 0% interest for X months. It's not probably what you'd want as you have stated you want to avoid tapping into personal credit, but it would be the cheapest alternative besides getting a free loan from a friend or family member. Hard to beat 0% interest.