SBA loan or personal loan? Thoughts..?
Hey all,
I have a little dilemma. Ive been using all of my own money to buy homes, pay for supplies, repairs/contractors, etc.. I don't want to use my own money anymore because it is now dwindling. My business has not been up and running for two years so I'm wondering does that disqualify me for an SBA loan? My other idea was to get a personal loan to cover my upcoming expenses (around 60k). This 60k will allow for me to purchase another home, materials and pay my contractors. I will be able to pay my monthly loan payment with no issues. I don't want to get a HELOC and lock up my equity. I'm wondering if there are any other suggestions or options others might have experienced or know of?
Thank you in advance!