Additional money to complete large 203k project

[Eric La Pratt]

I might be in a unique predicament and thought to reach out here:

I am wrapping up a co-owned 203k project that had some large surprises during construction and, now, is over budget and we need more money to finish the job. We have some options that we are working but I am curious to know what the BP community has to say about this. Here is the scenario:

• The project has gone on twice as long as expected, therefore holding costs have been twice as much.
• The project is maxed out for 203k limit for a 3 unit - meaning nothing more could be borrowed on it at the time, regardless of DTI
• To close out the 203k, the property has to go through final inspection with the city
• To go through final inspection with the city, we need about $40k of additional work (including new 1.5" water service)
• The property is not performing, so the banks see my DTI at the moment as very, very high - too high to get traditional financing, almost any way you cut it (HELOC, etc.). I literally cannot get anything traditional
• With a $40k cash infusion, the property would be wrapped up in 30 days and could be filled and cash flowing.

I am aware of cash advancing credit cards or asking family/friends - but beside that, what are the options to getting this cash infusion on a project and owned that's maxed out? Are there private lenders who help do bridge/construction financing? Is there crowd-sourced funding for this type of thing?