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Originally Posted by comeplay
Yeah shark tank is my favorite show, won't really help me with such a short deadline though.. Would I have trouble getting a bank to give up 20-30k if I had two skids to put up as collateral? Value would be atleast 60k probably closer to 80-90k
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In a normal economy your odds are probably better as I assume banks have enough homes they foreclosed on these days they can't sell, they like collateral but honestly they don't want to repo stuff they would rather see you succeed as it's less headaches for them, I think it will fall on your business plan which you should write out and your past credit rating plus any collateral you can put up, I'm not a banker so I don't know the exact formula that makes them say good plan or this guy is crazy so I don't wanna guess at the outcome, get your plan on paper and sit down with them and see how it goes, a good business plan with collateral and if you can get a contract for the work you will probably have the best chance, depends on the bank as well as some may be willing to set their risk level higher than others which of course would give you higher interest rates as well, good luck.
