I believe we’d also need to cross-collateralize our 2 existing properties (Florida and Virginia) as part of this.

Lastly, I would imagine that with all of the small business ownership involved, there's probably a local bank that already has a UCC filed and is unlikely to play ball with a private lender who's trying to realize their collateral.

SBA Loan 10% collateral.

As far as partnering up with a lender, absolutely because you can't learn the game in 6 months, but what you need to look at and understand is the risk and that goes further than just collateral when dealing with brokers. 

Your credit is good, but not amazing and your DTI is just a touch below the max that banks like to see.A personal loan is non-collateralized, so the lender really has to feel confident in your ability to pay it back.I would suggest taking a different route.

He owes $60,000 to the IRS from 2004 taxes and he has asked me if I would do a secured promissory note with his house as collateral.

You're going to need to fix the furnace and quickly.The didn't rent the place with portable electric heaters, it had a furnace.Landlords are required to keep properties in safe conditions as leased.Your deed of trust or your mortgage requires you to keep the property in good condition and not allow the "laying of waste" to the collateral, that means keep the property in good condition as it was financed, in this case with an operable furnace, and not allow the property to waste away.

There's a little more to the story that you need to know when pledging an IRA-owned asset as collateral for a loan.

The note holder needs to continue to make demands so that the perfection of the secuirty interest and amounts due remain due and doesn't become stale or abandonded, this should be coved in the purchase agreement as well.But if you foreclose you will have a collateral interest and may have to sell, any overage above the balance owed goes to the borrower.

Hello, Can anyone recommend a good collateral business loan company to work with for a client.