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I have two pieces of property I want to use as collateral in southern ca for a personal loan to help get my buisness going about 15000 Where do I start

chrisgummerson · Posted: Mon Jun 06, 2011 2:27 pm Post subject:

Are you looking for a refinance type mortgage or a personal loan? A personal loan uses only your signature. If you are using the property as collateral, then it would be a mortgage. You can call a local lender and get pre-approved for a cash out loan, or contact other companies that provide small personal loans. Your credit union, bank or companies like cash call or money mutual provide personal loans. Keep in mind that personal loans bear an interest rate from 20%-99.99%, whereas a mortgage you can get a loan from 3.5%-5%. You can also try SBA loans. Try contacting a few banks and go from there. Good luck

jameshogg · Posted: Mon Jun 06, 2011 8:41 pm Post subject:

Hi awsnap,

As you're looking for personal lenders, you should contact the local lenders who offer personal loans and apply for the same. These lenders will check your financial situation and let you know whether or not you can get a loan. However, you should note that personal loans are available at a higher interest rate.

Thanks

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