I personally always try to avoid debt; Not being sarcastic, just trying to think out of the box a bit.
Lets say you want to open up a meadery. Why not do everything official and have it just be a weekend business (Just to get started)? Whatever you have now, you can use for the business. Why buy more? Make mead, age, sell, use the profits to THEN buy better equipment. If you are only doing it part time, you don't need to see the life sustaining profits immediately. No doubt in my mind that you will make errors, and learn a ton from them in the process. Why not do it on a part time basis when the risks are low? I am sure you can buy enough carboys to increase production to 40 gallons without a loan. And if you can't maybe immediately isn't the best time for this venture.
Have you won any local awards? National? If not, maybe there is a start. How many folks here have sampled your mead? Do you have a custom recipe that will be your flagship offering? Trade some with others, get some feedback like that. As you know, there are many folks here that could offer up advice on how to make a current recipe better. Before you make a huge plunge, make a name for yourself. Do the locals know that they can get a bottle from you that is an awesome product? Maybe work out small, then let it explode instead of trying to explode yourself.
Take it all with a grain of salt. I am by no means trying to tell you how to run your business. Only asking some questions that need not be answered, just food for thought.
All in all, I really really hope you do open a meadery. I would love to add one of your labels to my collection.