Where you are from is irrelevant.
The contract would be irrelevant. Do you think if you go broke because your business fails that the bank is just going to give you money to pay your debts?
Doesn't make sense.
If this were the case why would you not just go to the bank now for the 20k and you would only have to pay interest instead of the 50%.

This guy who has had "wonderful" success in the webhosting business should be able to provide you with the investment you need, no?