Where could I get a $1.8 Million business loan?

Question

I'm am thinking about starting up a business and want to know where/how I could get that big of a loan...

Answer 1

$1.8M would fall into the catagory of Middle Market Lending. It depends on what type of loan you are seeking. A construction loan, land acquisition, development, perm financing...each requires different amounts of equity. A good standard is about 25% loan to cost and about 45% loan to value.

If you have never done this before you will need a little more equity to compensate the bank for risk. Write an excellent business plan and, try to get an investor interested in your project to help contribute equity.