It would be helpful to me at this time, to have about $25K in working capital for work on one of my multi-family properties. This relative to my situation, is a super modest amount of funds. It probably be best as a friends-and-family type loan, but I don’t have anyone around me that is an appropriate lender.

If I have to, I can put the funds in myself, but its inconvenient, and would come from investments that would need to be sold, taxed, etc. I seem to be “landlocked” for any borrowing at this time.

I did go to the bank that holds three three commercial loans for my apartments. The thing about this bank, is that they seem like they are ready to s*** their pants at any moment, fearing I am going to default on them. That’s the vibe they give off.

And I don't really get it, as I've been paying these three loans for 7 years, without any incident of any kind, ever. I am not badly leveraged. The LTV of the loans I'd conservatively gauge at about 35 percent. These are not risky loans, by any means in my mind. However, this is a conservative regional bank, that is on the NASDAQ, so maybe that's the issue?

I did approach them about a year ago about getting $25k credit line per property, and the response I got was basically no. That for them to consider it, they would want to order three appraisals, and then the loans would all have to be cross collateralized over the three properties, and it seemed over the top and costly way to borrow $75K. So I didn’t pursue it any further.

A asked around on other options. Given that I am self employed, a few personal loan options, did preliminary asking about my situation, and they got lost in the weeds with how my real estate income looks so dismal on tax returns.

Then I spoke to a company that does business lines of credit, based on personal FICO scores. They were fine with my score (about 740), but have issue with the percentage of personal credit I am utilizing, so that discussion also petered out.

Apparently, I have a lending profile right now, that is not attractive to mainstream lending programs.

Any advice?

Cincinnati, Ohio

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