assumed that hard/private money loans were either unsecured or collateralized against non-real estate.

So at that point you have an unsecured note and your recourse is to sue on the note if they wont pay.. and or sue for fraud if they never gave your security but inticed you to make this loan saying there would be security.. so as to not throw your borrower under the bus here you may not be fully aware of what deal you actually made.hope this helps giving you next step but if its a significant amount of money I would get a consult with a RE attorney.

@Jay HinrichsThat lender yes made a very bad investment which I am being kind with those wordsI have a non performing loan in BK and a person gave this person $60k loan unsecured while they were in bankruptcy and never even ran credit or checked on his backgroundShe now wants to sue for fraud which great your suing someone in bankruptcy - the money is gone.

@Adolphus Fletcher - If you're main goal is to build business credit there are different avenues to do so including: obtaining and unsecured line of credit for the business, applying for a business credit card, applying for business accounts such as Home Depot/Lowes, etc...

I believe many in your shoes also struggle to differentiate between mortgage debt and unsecured debt such as  credit cards.

Make them safe at the project (which could be an unsecured house)?

If there are unsecured creditor not getting their full amount due it is harder as well as it would need to be out on open market to make sure it gets best price for the unsecured creditors

It can't be an unsecured personal loan. 

@Jason Guenther why not:1) Pay off unsecured debt of $552) Get a HELOC on primary for EMERGENCY purposes only.3) Buy a 2-4 unit and live in one unit, rent the rest.

U can do an unsecured Prom note @Jeff S.