Quote:
Originally Posted by DaddyHalbucks
Typically banks don't do many of those unsecured type loans. They have regulators and shareholders and a thing called fiduciary responsibility.
Those types of loans are usually from friends and family.
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Not true at all. Signature loans are big business for almost all traditional banks. If you have a decent credit score and/or decent business credit rating you can typically get $30-50k within 24 hours from BofA, Wells, WAMU, CITI, and /or AMX. If you don't have an existing business relationship with the bank, expect to do a personal guarantee. All of these are easy to do stated, no documentation required.
I've worked with banks and hard-money lenders for the last 9 years and money is a lot easier to come by than people think.