As a lender I never discriminated on age, but I do as to income,  verifiable income, credit history, ability to pay and collateral. 

If the borrower defaults, you seize the collateral securing the loan. 

Once it's yours, can't you list it as an asset to obtain a business or personal loan using it as collateral? 

SBA requires 7(a) loans to be fully collateralized, so to get to the 90% advance rate, your property would have to appraise for 111% of cost.

After knowing the basics you'll understand what a lender looks at, loan to value, property value of collateral, your ability to manage what you need the funds for and how your loan will be secured. 

@Nicole Starnes : Most (in my experience) private lenders are "asset-based" lenders, in that they typically focus on the ratio of the loan amount to the value of the collateral, more so than the credit rating of the borrower.  

Most do:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

Never transfer property to your LLC without FIRST getting your lender's permission - which you're unlikely to get, banks don't want the collateral assets securing your debt becoming protected - this reason for this is due to possibility of being forced to pay an accelerated note because you transferred title and the bank enforced the "due on sale" clause.

Perhaps the lender was requiring more collateral to secure the loan.Listen to what is not being said as much or more than what is being said.

An investor may choose to keep the LOC intact (no lien releases) and instead substitute collateral/property over time depending on the goals of the portfolio.I think many CLs are more interested in the borrower's history and assets vs. credit and employment status.