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

project, what sort of terms...
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 ?
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11/19/2013
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,074
Experience: Experienced real estate lawyer and real estate broker.
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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
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,074
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