Tag Archives: SBA loan

Stated Income Commercial Loans are HERE!

Stated Income Commercial Loans are HERE!

Lite-Doc  $250,000 -$3,000,000

Middle Score 650

Owner Occupied and Investor

3,5 10 year options with a 30 Year Amortization!

Apartments, Rue La Fontaine by stevecadman, on Flickr
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Multifamily and Mixed Use up to 75% ltv  

 

Give me a call today to go over your deal at 512-650-8630.

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It Comes Down To Your Character

Lenders have many criteria to consider when deciding whether to provide financing for your business operations, and all start with the traditional examination of capacity, capital, credit, collateral, and character. But, make no mistake. Regardless of the other relative strengths you may possess, it all comes down to character.

Lenders have to be assured that prospective borrowers have the ability to perform well enough to generate profits to repay their financing. They will ensure that the borrower has a vested interest in the operation with their own money, and that there is always a secondary source of repayment from which they can ultimately get out of a deal. Read More More

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$1,200,000 Refinance Investment Property

$1,200,000 Refinance Investment Property

COMERCIAL BUILDING by chego101, on Flickr
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Location: Dallas, TX

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Make Good Decisions For Yourself

 

Judgment day may be anti-climactic, since a large number of decisions are going to be made in the process; many by the business, many by the lender, and many through compromise. Diligence and purpose must be the focus of your efforts for every decision leading ultimately for the money to run your business.

An important attribute to hold onto through these processes is the perspective of your purpose, and the limitations of your business. It is all about money, but money is still only money.

The process of finding business capital is a sales challenge. You establish needs, find prospects, qualify, and try to close. It is one of dozens of challenges any small business faces every day, but it is not the only one. And solving the money problem does not solely insure success.

Money is the currency in which you operate, but there is a greater challenge in establishing a way to making it flow regularly through your business. Money doesn’t end the list of challenges.

You need to establish some limits as to what your business agree to do, agree not to do, and what it will pay for the financing it is seeking. If your lender asks too much, more than your self-established limit, walk away from the deal.

Remind yourself why you established that limit, and keep looking.

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Don’t Be Stupid

Many lenders have had the unfortunate experience of negotiating loans with a borrower who was using false, exaggerated, or misleading information to obtain credit. Whether or not the ploy succeeded, the effects are often felt by legitimate borrowers, whose applications are scrutinized with even more suspicion due to the experience. While under normal circumstances there is a natural inclination toward trusting people, be prepared to confirm everything.

Unless actual loan losses have been incurred, many lenders may be hesitant to prosecute loan applicants found to have used false information to obtain their loan. But when they do, they may get assistance from the federal government, who insures depositors and regulates banks. Read More More

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Set Your Sights on Reality

Starting a new business is one of the riskiest, yet exciting decisions you will make in your life. While over sixty percent of the new jobs in the United States are created by small businesses annually, a significant number of them are not sustained due to failure.

There are relatively low barriers to entry for starting up many businesses: adopt a name, maybe incorporate, get a business license and away you go. Dreams and schemes are cheap, but before you get too far down the road, you need to set your sights on reality. Read More More

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Protect Thyself

Don’t worry about it, it’s no big deal. Those are famous last words in any business negotiations, particularly coming from a lender to a borrower (or vice versa, to be fair). A savvy borrower who understands the terms that the lender wants in a loan agreement, must be ready to make some hard choices.

Borrowers must try to imagine the worst case scenario in their business ahead and reflect on how the lender’s terms will impact the business. Sometimes there can be ways to give the lender adequate protection without the full- scale surrender that is often described in the loan agreement. Read More More

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Economy at Rest

Across the media I keep seeing the discussion going back and forth about who or what is the culprit for tight business credit and a continuing sluggish rate of economic growth. Depending on the guru you tune into, the average projected 2011 growth of the Gross National Product is only about 3%, meaning that new job growth will remain lethargic for the foreseeable future. At that pace, it may take 15+ years to return to the same employment level enjoyed prior to the housing bubble.

So where is the money to fuel a more robust economy? Let’s look at all the players in that cycle: Read More More

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Government Small Business Loan Allows SBA (504) Refinance Loan

Wishing you the Best,
Karen Schimpf
Phone: 512-650-8630

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This entry was posted
on Tuesday, March 29th, 2011 at 4:59 pm and is filed under Uncategorized.
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Government Loans Small Business – Breaking News!

Government Loans Small Business – Breaking News!

The W.A. Hover and Company Building by Jeffrey Beall, on Flickr
Creative Commons Attribution-No Derivative Works 2.0 Generic License    by    Jeffrey Beall  

The SBA change will lift the mortgage muturing date limitation of Dec. 31, 2012 in order to refinance a SBA 504 loan. On April 6th, “The Federal Register” will publish that the SBA will accept applications from small business owners with mortgages matruing after Dec. 31, 2012.

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This entry was posted
on Wednesday, March 30th, 2011 at 9:56 am and is filed under Uncategorized.
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