On Sat, 2 Nov 2013 11:20:48 -0500, "RogerN" wrote:

"Ignoramus11177" wrote in message
m...

I think that as a general case, taking business loans is usually a bad
idea, at least outside of the real estate arena.

Money should grow from natural sources, a.k.a revenue and savings.

i

I'm not wanting a business loan, just money for the building. I bought my
house and 4.5 acres for $41,500 over 10 years ago, if I got a $20k for
building, concrete, & electrical, I'd have $61,500 in my home , building,
and acreage. Doesn't seem unreasonable to me. I plan to check with another
area bank that does construction loans, thought I may be able to get it
refinanced at a lower rate plus the building added on.

RogerN



Don't even talk tothe bank about business plans. You need to ask for a
second mortgage for home improvement. If you have 20% equity and
adequate cash flow, it will sail right through.

I bet I "improved" my home almost every year for nearly twenty years.

never mind that I used it to buy inputs in May and then repaid in
full in October.

Fortunately, I'm in a position to no longer need to do this.

karl