In addition to putting a lien on your business, some commercial mortgage lenders may also insist on encumbering your private home. You won’t be surprised to learn that this can be a challenging situation. You can not blame the lender for wanting to secure the payment of his loan by all possible means. At the same time if you allow a lien to be placed on your private property for furthering your business, you are risking not only your life but also that of your family. You want to look cautiously at this course of action and only follow it with great care.
You might want to do some research on commercial mortgage lenders by looking for the ones that are more likely to risk lending you money for your new business. You might get some help from a commercial mortgage broker who will mediate between you and many lenders. He would be able to give you information about the variables and limits used by different lenders. Sure, commercial lending institutions are facing troubles of their own these days, but you must remember that they only make money if your loan application goes through, so you should assume that they’ll be on your side as much as possible.