Reaching out for help - How to fiance my flip -- have collateral

[Jill H.]

Hi everyone, I am reaching out for help because I am not sure what to do. I know there is a wealth of honest true knowledge here on Biggerpockets. My dilemma is that, I would like to start back flipping again. I need financing to do so. I applied a Home Equity Line of Credit with a Rental property I own free and clear. Pen Federal Credit Union which is listed on the site, they turned me down because they couldn't escrow/taxes/insurance on a HELOC loan and it has to have a 1st lien on it.

So I signed up for a site that connect investors/loan officers and received emails/calls.  One was Anchor loans for a Business Loan.  I am not sure about this, nervous on this one.  Their Loan Origination is $3000.00 plus $1400.00 in Anchor loan fees and 13% interest rate (on a $60,000 Loan).  The loan officer stated they could use my property as collateral instead of a down-payment.  I am just not sure, its seems like a hard money lender to me. Not sure and nervous about this.

My credit score is in high 750+ with excellent credit history.  With all said, anyone has any ideas how I can fiance my next project?  I am out of ideas other than hard money.  I thought hard money was for folks with credit issues.  IF business loan listed is okay, please let me know. IF you know of any other banks that fiance Rental Properties??  Tried TD Bank but they don't lend in my area (GA).  My spouse decided not to sell any of rentals until the market come up.  But he is allowing me to use 1 as collateral. 

I genuinely appreciate any help. Just want to get back in the game.  I need some good solid advise please!! I am nervous and I can't mess this up.