getting a small business loan to fund money down on conventional loans

[Eric Hamilton]

Hi my name is Eric Hamilton. I live in the Denver metro area. I had a question regarding small business loans for funding the down payment to get conventional financing. I had read some literature a while back about a guy on the east coast doing this a couple of years back. I know there has been alot of changes in the ways financing REI since the recession and really dont know anyone who does this anymore. But I would like to hear some feedback wheather this can be done anymore, if its legal on paper and morally? More specific I would like to know if there are any better options for veteran small business loans. I had looked into the patriot loan that the SBA offers but it says specifically in their it cannot be used for REI. What a bummer because real estate as far as I know is the most safe business start up in the world. Let alone Joe smoh thats getting a loan to fund a ma and pa shop.

[Micki M.]

@Eric Hamilton Wow! Sorry for all the negative Nancy's chiming in here. I'm going through a similar process right not and have looked at everything from SBA to private investors. I get that you're not trying to do something shady, just exploring creative options. They're out there, it's just knowing how to structure stuff. Good luck and keep us posted. BP Meetup tonight if you want to meet more people who will help you figure out how instead of saying no.