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Business loans questions.
Posted on 5/19/16 at 4:48 pm
Posted on 5/19/16 at 4:48 pm
Without going into too much details, would it be hard to obtain a 500K business loan by a single individual under these circumstances..
Single
90K annual salary
780 FICO
1500 mortgage 13yrs remaining on a 250K house
Other misc debts totaling 10K
Owns the property outright to build the business on. Property value 200K. Requesting a 10yr business loan of 500K. Is it possible without a cosign? At what rate?
Single
90K annual salary
780 FICO
1500 mortgage 13yrs remaining on a 250K house
Other misc debts totaling 10K
Owns the property outright to build the business on. Property value 200K. Requesting a 10yr business loan of 500K. Is it possible without a cosign? At what rate?
1
Posted on 5/19/16 at 5:26 pm to lsu xman
My advice would be to go talk to a banker. Is the land you own zoned commercial? If not that could hamper you.
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