Industry: Real estate

I want a loan. My business partner doesn't.

March 13, 2009: 10:15 AM ET

How to get capital when you are your partner disagree on the risks.

C. Miranda, Urban Revitalizers, Boston

I am a partner in a small, certified minority business, and have been managing it for the past 10 years. My firm has just won a statewide contract to conduct assessments of real estate throughout the state. It is our first large contract, and it requires some start-up capital. I have applied for several business loans to carry us through until our first pay-down. The problem is that my business partner of 10 years is not willing to sign, saying that she wants to be able to continue to pay the bills if everything fails. I have used all of my credit cards to get us part of the way there, but still need more capital. My credit score is high. Can someone tell me how I can get over this hurdle?


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