Real Estate Company Loan
For a Real Estate Company Loan, Small Business Loans Depot offers niche used real estate company loan financing based on the Gross Receipts, or Gross Sales of the Business. By using their sales, Real Estate company loan companies can obtain the highest approval funding amounts. The funding can be used for any reason. This includes marketing, advertising, inventory, expansion, additional employees, cash flow, any other reason.
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Features of a Real Estate company loan financing product below.
Difficult and complicated transactions are routinely done.
The application process is fast and easy.
The full process from beginning to end takes five to eight business days.
$7,500 to $150,000 approval amounts done routinely.
There are no application fees or advance payments.
As little as 9 months in business accepted.
Low credit score used. Credit scores even below 500 can be approved.
No conditions on how the business capital is used.
Collateral is not required as this is an unsecured transaction.
24 to 72 hours processing and approval time.
Real estate companies provide information on their cash flow with their last most recent three months complete business checking account statements. They also submit a one page application in order to qualify for this real estate company loan financing. The final approval amount can be as high as 150% of the total monthly deposits over the most recent 3 months. The customer has 2 to 18 month repayment terms. 6 and 9 months are the most popular repayment terms. Customers decide which approval they want.
Seasonal businesses are not excluded from funding.
Some examples include a recent river rafting companies which are highly seasonal. For such a business, the most recent 3 or 4 months in the summer are the highest volumes. Rather than obtaining a lower approval amount or denial, submitting the last 12 months statements for a seasonal business give these businesses the highest chances for approval and the highest approval amounts and longest terms as well.
Funding amounts for this real estate company loan financing range from $7,500 to $175,000. Approvals can be obtained for up to $135% of the raw dollar amount of deposits. As an example, if a customer deposits $100,000 in one given month, up to $135,000 approvals can be obtained.
Approvals will be higher if the company keeps strong balances. If the customer has multiple business checking accounts, submit statements for both accounts. Doing so will provide the highest approval amounts with the best terms. This is best for seasonal businesses.
Credit limit increases. As the customer uses the line, the maximum limit the customer can draw is increased. Limit increases occur most frequently with existing customers. Existing customers are the most desired customers. New customers are not given better terms and handled better than an existing customer.
This line is not reflected on the owner’s credit report. This real estate company loan financing is not listed on the individuals personal credit file. business credit is established with the main business credit bureau agencies in the industry, such as Paynet, Experian business credit report, Dun and Bradstreet.
Frequently asked Questions:
How much will the approval be for? The dollar amount your business will be approved for is most closely tied to both the raw dollar amount of the businesses monthly deposits and the average daily balance. Higher funding amounts will occur as these amounts are higher.
Will we obtain an approval?
You have an excellent chance of being approved if your business has sales. Simply having sales means your business has a very good chance of obtaining eh desired approval. As indicated previously, the higher the sales, the higher the approval amount.
What length of time is required for approval for this Real Estate company loan financing? In the majority of cases, funding occurs by wire within 2 to 3 days of approval and the customer faxing back in the final documents.
Can this be paid off early? Early payoff can take place. Since the approvals tend to be shorter term, from 3 to 18 months, in most cases customers do not pay off early because the transaction is short term already.
How can I go about using the line over? Does a new transaction from scratch take place? You will be viewed as an existing customer with a positive borrowing history. The line can be used repeatedly only by giving the most updated cash flow information.
Is collateral required? Collateral is not required for this real estate company loan transaction. Only the Gross receipts or Gross sales are the main basis for this transaction.
Can we obtain larger limits in future requests? A higher line size is usually granted with each re-use. This provides more options than traditional financing has in the past. With traditional financing, customers have almost always found it difficult or challenging to obtain limit increases. Lenders of these programs have always been very conservative with limit increase requests. However, this does not apply for this financing. The largest line size possible is provided and the limits are increased as often as possible and by as much as possible.
Example of a real estate company loan financing transaction. Itemized below is an example of a recent transaction.
A real estate company in Baltimore Maryland required working capital. They were denied by their local traditional lender. Issues at hand were that the owner’s credit was not perfect and the financial statements were not what the bank was looking for.
A real estate company submitted a one page application along the most recent 6 months business checking account statements. Underwriting reviewed for 48 hours and approved a $50,000 real estate company loan. The company selected a 9 month term. The original docs were E-Mailed to the customer. The customer faxed the completed docs back the same day.
The final verbal verification was done with the customer. Funds are wired 24 hours after the verbal. The customer was able to immediately use the funds to immediately begin a new project.
For more information on Real Estate loan information and options, visit the SBA
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