House Flipping Financing

[Steve Karpinski]

I'm looking to do my first flip and found a local bank that will lend me 75% of the purchase price and 100% rehab for a flip. I meet the financial requirements and have been approved so I am ready to go with them. The Bank's minimum loan amount is $100,000 and the rate is WSJP + 2.00% interest only, a 2% fee, and a 12 month term. I have cash to cover the remaining 25% of the purchase price but this is pretty much my life savings since I'm only 26 so I'd rather try and get lent the money. I have created an LLC so I've been looking into a business line of credit and I don't have any family who would lend me it. What are my other options?