How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask WiseOwl58 Your Own Question
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 3649
Experience:  Experienced real estate lawyer and real estate broker.
62735101
Type Your Real Estate Law Question Here...
WiseOwl58 is online now
A new question is answered every 9 seconds

In the event that I am able to get bank or VC funding for my

This answer was rated:

In the event that I am able to get bank or VC funding for my project, what sort of terms might I expect given I have poor credit and no money to put down ?
If it is a bank that is providing you the funding, the bank will probably want an interest rate in the 25% range and they will take a security interest in the project, meaning that if you default on the loan arrangement, they will be able to take over the property in foreclosure.

VCs work a little differently, and the VC will probably want a percentage of the profits on the project, perhaps a 50/50 split for them putting up the money. Of course, they will want to get paid before you can take any money out of the project too. Similar to the bank, the VC will take a security interest in the project too.

Good luck to you. I wish you all the best.
WiseOwl58 and 5 other Real Estate Law Specialists are ready to help you

Related Real Estate Law Questions