How can I get out of multiple advances

What are multiple advances?

When a business has more than 1 cash advance, they have multiple advances .  Does the example below look like your business?:    

A business has three mca positions:
# 1:   Balance of $20,000 with daily payments at $333 per day.
Merchant has 60 business days left or approximately 3  months.
#2:    Balance of $10,000 with daily payments at $166 per day.
Merchant has 60 days left or 3 months.
#3:  Balance of $5,000 with daily payments of $83 per business day.
Merchant has 60 days left which equals 3 months.

If your business has advances from stacking, complete the secure 30 second application below to rescue your business today!   Get payments now you can afford that will not hurt your business, or credit or reputation.
Several options to reduce your daily and weekly cash flow for advances and longer term options such as weekly and monthly payments.

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Call us at Tel:  1-919-771-4177, or Question? Contact us here.

How you can get out of multiple advances.

  1. Add up and know your total daily, weekly and monthly payments on the advances as well as how much longer you have to pay on them.   Also get your total payoff balances.    Know your approximate credit score.
  2. Search for lenders that either payoff or restructure your debt as earlier options.    Funding programs that recommend you close your business checking account or negotiate a settlement hurt you the most and should be your last possible options.
  3. Choose a program that best matches your business profile for your amount of debt, ability to pay and urgency for a fast loan on any new program that allows you to get out of your advances.
  4. Talk to a representative of the program.   Tell them about your business and ask them about their underwriting criteria.   Try to assess what your chances of approval or being declined are for each program.   Once you find the best matching program, then apply.
  5. If approved, review the terms of the approval.   If you are satisfied, close the transaction.
  6. Receive funds into your business account and begin repayment with improved cash flow.

We have excellent programs with a high approval rate to fix your multiple mca multiple positions problem.  Almost all businesses can improve their cash flow.   Take actions before you have missed mca payments.   before you have missedApply above or contact us at Tel: 919-771-4177.

Get out of multiple advances today
If your business has several short term advances, contact us and get this solved today.

FAQ Frequently asked Questions on getting out of multiple cash advances:

How can I get out of these without missing payments or defaulting?
You can either pay them all off through a consolidation or refinance them and extend the term several more months. You may qualify to extend the term for up to 10 years.
How much lower can you get my Payment? I need to reduce my payment by half or more. Can you do that?
We have programs available that can reduce your payment between approximately a third to more than half. In some cases your payment can be lowered as much as two thirds.

There are links to several other financing options below and also helpful articles.  Review funding program details below.    We offer free consultation because we want your business to succeed.

How to get a real estate merchant cash advance

What is a Real Estate Merchant cash advance:

A business loan with short term daily or weekly repayments using real estate as collateral.   The real estate may be commercial or residential.
One of the closing requirements is residential or commercial real estate with enough equity in the property to cover the amount of the loan.  As stated, the Business Owner can offer:
– Commercial real estate
– Residential Real Estate
– Raw land in some cases
If you do no have the real estate needed for a real estate merchant cash advance, then  contact us below at SmallBusinessLoansDepot.com for several funding options such as bank statement loans that do not require real estate.

Secure DocuSign 30 Second Application here
Call us at Tel:  1-919-771-4177, or Question? Contact us here.

What can you do if you don’t have any real estate?

Sometimes Business Owners do not have the real estate that is required to close this type of a business loan.
What other ways can you get a business loan?  What is the lender is asking for?

Real estate will not be required for other funding options such as a
asset  based loan, and accounts receivables financing.

How to get a real estate merchant cash advance:

    1. You must have property that has at least 50% equity or more.
    2. Tip: Higher loan requests over $50000 and land with a value over $100000 will work better.
    3. Do a search for lenders that offer business loans or mca merchant cash advances using real estate as collateral. Review the features and benefits and find the program that best matches your situation.

      Do a search for lenders that offer business loans or merchant cash advances with real estate as collateral.
      Search for lenders that offer business loans or mca merchant cash advances using real estate as collateral.
    4. Contact the funder. Discuss your request and business profile with a representative. Try to prequalify and find out how likely your business is to meeting approval requirements.

      Contact the funder. Discuss your request and business profile with a representative.
      Call the funder. Review your profile with a representative to see if you may qualify or prequalify.
    5. If you prequalify consider applying and submit an application and required information. After an approval review the approval terms and conditions.

      If you prequalify then consider applying
      Once you have determined that you prequalify or have an excellent chance of qualifying then consider completing and application.
    6. Complete the transaction when satisfied with the terms and closing requirements.  Provide any closing stipulations required. Receive funding into your business checking account.
      Small Business Loans Depot
      Small Business Loans Depot

    Learn more about real estate backed loans:
    Recent examples from the web: 

    FAQ Frequently asked questions on how to get a real estate merchant cash advance

    What am I getting by using real estate that I am not getting without it?
    You are much more likely to get approved and also approved for a higher amount with longer terms. If your business has several cash advances and high total balances on advances then using your real estate will be the only way to consolidate them or pay them off. If your business has 3 or more advances there are almost no other available options to solving your cash flow problem. If you do not use your real estate then you have to find an investor that is willing to take on the entire risk that all the advance companies took. They have to take all the risk from several cash advances into one loan. That is why investors and other lenders rarely want to invest into a longer term monthly payment consolidation of several short term cash advances.
    How can I get an mca cash advance using real estate?
    The amount of the loan or mca merchant cash advance is usually higher if there is equity in the real estate. The cash flow of the business and amount of monthly deposits is important. The approval amount is increased because of the value of the real estate and equity it has.
    We have several cash advances and are suffocating in the debt. We have equity but need help immediately. Can you help us immediately or will it take weeks?
    You can get funding to payoff your advances fast with this program. It typically does not take weeks as with a traditional real estate. Funding can be as fast as several days or one to two weeks.
    Why do I have to use real estate to get financing that is basically cash advances?
    You do not have to use real estate to get cash advances and it is not required. If you qualify to get a regular unsecured mca merchant cash advance then you can do so. This is an additional option that may allow your business to get approved instead of being declined. It may also allow your business to get approved for a higher amount of financing using real estate instead of unsecured.
    Can we get longer cash advance terms by using our real estate?
    Longer terms are often 1 year and sometimes up to 2 years. This is longer than a regular merchant cash advance. An offer you may received with a term of 1 to 2 years with real estate would have probably been a 6 to 9 month offer without real estate.
    Does the property have to be free and clear?
    The real estate does not have to be free and clear. It only has to have enough equity in it collateral wise.
    Can I payoff all of my cash advances and other debts and get cash also?
    If the cash flow of the business qualifies along with any equity needed then you can get enough to payoff all business cash advances along with other debt. You can get the remainder in cash to use for any reason your business needs.

    Below you can consider other financing options. Review funding program details below.

Service Locations

Customer service areas and service locations

Northeast Region:

Consultants representing the following Northeast cities can be contacted: 

Connecticut, New Jersey and Rhode Island: In Bridgeport, CT. In Camden, NJ. In Hartford, CT. In Jersey City, NJ. In Milford, CT. In New Haven, CT. In New London, CT. In Newark, NJ. In Norwalk, CT. In Norwich, CT. In Providence, RI. In Stamford, CT. In Trenton, NJ.

New York: In Albany, NY. In Batavia, NY. In Buffalo, NY. In Cheektowaga, NY. In New York City, NY. In Niagara Falls, NY. In Rochester, NY. In Schenectady, NY. In Seneca Falls, NY. In Syracuse, NY. In Yonkers, NY.

Pennsylvania, Maryland and Delaware: In Allentown, PA. In Baltimore, MD. In Bethlehem, PA. In Columbia, MD. In Dover, DE. In Harrisburg, PA. In Lancaster, PA. In Lansing, MI. In Lebanon, PA. In Manchester, PA. In New Castle, PA. In Philadelphia, PA. In Pittsburgh, PA. In Reading, PA. In Salisbury, MD. In Scranton, PA. In Towson, MD. In Weirton, PA. In Wilmington, DE. In York, PA.

Maine, Vermont, New Hampshire and Massachusetts: In Bangor, ME. In Boston, MA. In Burlington, VT. In Cambridge, MA. In Concord, NH. In Montpelier, VT. In Newton, MA. In Portland, ME. In Providence, MA. In Springfield, MA. In Warwick, MA. In Worcester, MA.

Midwest Region:

Consultants representing the following Midwest cities can be contacted:

Michigan and Ohio: In Akron, OH. In Ann Arbor, MI. In Canton, OH. In Cincinnati, OH. In Cleveland, OH. In Columbus, OH. In Dayton, OH.  In Dearborn, MI. In Detroit, MI. In Flint, MI. In Grand Rapids, MI. In Marion, OH. In Maysville, OH. In Muskegon, MI.  In Parma, Ohio.  In Toledo, OH. In Wilmington, OH. In Wyoming, MI. In Youngstown, OH.

Illinois, Indiana, Wisconsin: In Anderson, IN. In Carmel, IN. In Aurora, Illinois, Chicago, Illinois. In Elgin, Illinois.  In Rockford, Illinois.  In Joliet, Illinois.  In Lee’s Summit, Missouri. In Naperville, Illinois.  In Springfield,  Illinois.  In Peoria, Illinois.  In Elgin, Illinois.  In Waukegan, Illinois.  In Cicero Town, Illinois.  In Champaign, Illinois.  In Bloomington, Illinois.   In Decatur, Illinois. In Eau Claire, WI. In Fort Wayne, IN. In Gary, IN. In Indianapolis, IN. In Madison, WI. In Milwaukee, WI. In Naperville, IL. In Green Bay, Wisconsin.  In Kenosha, Wisconsin, In Peoria, IL. In Racine, WI. In Springfield, IL. In Waukesha, WI.

Iowa, Minnesota, and Missouri: In Bloomington, MN. In Columbia, Missouri.  In Davenport, IA. In Des Moines, IA. In Duluth, MN.  In Independence, Missouri.  In Kansas City, Missouri.   In Minneapolis, MN. In Overland Park, MO. In Rochester, Minnesotta. In Springfield, MO. In St. Charles, MO. In St. Joseph, MO.  In Springfield, Missouri.   In St. Louis, Missouri. In St. Paul, Minnesotta. In St. Cloud, MN.

Kansas, Nebraska, North Dakota and South Dakota: In Council Bluffs, NE. In Kansas City, MO. In Lawrence, KS. In Omaha, NE. In Wichita, KS.

South Region:  

Business owners can contact a city representative in the following cities for assistance:

Kentucky, Virginia, Washington, D.C., and West Virginia: In Alexandria, VA. In Arlington, VA. In Chesapeake, VA. In Hampton, Virginia. In Huntington, WV. In Kenner, VA. In Lexington, KY. In Louisville, KY.  In Lynchburg, Virginia.  In Newport News, VA. In Norfolk, VA. In Petersburg, VA.  In Portsmouth, Virginia.  In Richmond, VA. In Roanoke, Virginia.  In Suffolk, Virginia.  In Virginia Beach, VA.

North Carolina, South Carolina: In Anderson, SC. In Asheville, NC. In Cary, North Carolina. In Chapel Hill, NC. In Charleston, SC. In

Charlotte, NC. In Chattanooga, TN. In Columbia, SC. In Concord, NC. In Davidson, TN. In Dunn, NC. In Durham, NC. In Fayetteville, NC. In Franklin, TN. In Gastonia, NC. In Greensboro, NC. In Greenville, SC. In Henderson, NC. In Hickory, NC. In High Point, NC. In Kingsport, TN. In Knoxville, TN. In Maudlin, SC. In Memphis, TN. In Morristown, TN. In Murfreesboro, TN. In Myrtle Beach, SC. In Nashville, TN.  In North Charleston, South Carolina.  In Raleigh, NC. In Sanford, NC. In Lenoir City, TN. In Shelbyville, TN. In Spartanburg, SC. In Wilmington, North Carolina.  In Winston-Salem, NC.

Florida: In Cape Coral, FL. In Clearwater, FL. In Daytona Beach, FL. In Jupiter, FL. In Fort Myers, FL. In Ft. Lauderdale, FL. In Hialeah, FL. In Jacksonville, FL. In Lakeland, FL. In Melbourne, FL. In Miami, FL. In Ocala, FL. In Pensacola, FL. In Kissimmee, FL. In Naples, FL. In Orlando, FL. In Ormond Beach, FL. In Palatka, FL. 

In Palm Bay, FL. In Pensacola, FL. In Port St. Lucie, FL. In Saint Petersburg, FL. In Sanford, FL. In Tallahassee, FL. In Tampa, FL. In West Palm Beach, FL. In Winter Haven, FL.

Alabama, Georgia, and Mississippi: In Atlanta, GA. In Augusta, GA. In Birmingham, AL. In Gulfport, MS.  

In Hoover, AL. In Huntsville, AL. In Jackson, MS. In Mobile, AL. In Montgomery, AL. In Savannah, GA.   In St. Mary’s GA. In Talladega, AL.

Arkansas and Louisiana: In Baton Rouge, LA. In Fayetteville, AR. In Forrest City, AR. In Lafayette, LA. In Little Rock, AR. In Metairie, LA. In New Orleans, Louisiana. In Baton Rouge, Louisiana.   In Shreveport, Louisiana.  In Lafayette, Louisiana.  

Oklahoma and Texas: In Arlington, TX. In Austin, TX. In Bartlesville, OK. In Beaumont, TX. In Corpus Christi, TX. In Dallas, TX. In Edinburg, TX. In El Paso, TX. In Ft. Worth, TX. In Houston, TX. In Killeen, TX. In Lafayette, LA. In Mission, TX. In Muskogee, OK. In Oklahoma City, OK. In McAllen, TX. In New Braunfels, TX. In Round Rock, TX. In San Antonio, TX. In Shawnee, OK. In Sugarland, TX. In The Woodlands, TX. In Tulsa, OK.

West Region:

Companies located in the following cities can contact a local representative for assistance:

Colorado, Idaho, Montana, New Mexico and Wyoming: In Albuquerque, NM. In Aurora, CO. In Boise, ID. In Cheyenne, WY. In Colorado Springs, CO. In Denver, CO. In Helena, MT. In Lakewood, CO. In Santa Fe, NM.

Arizona and Utah: In Albuquerque, AZ. In Avondale, Arizona.  Chandler, Arizona.  In Flagstaff, AZ.  In Gilbert, Arizona.  In Glendale, Arizona.  In Goodyear, Arizona.   In Mesa, AZ. In Nogales, AZ. In Ogden, UT. In Phoenix, AZ.  In Peoria, Arizona.  In Provo, UT. In Scottsdale, AZ. In Salt Lake City, UT.   In Scottsdale, Arizona.  In Surprise, Arizona.  In Tempe, Arizona.   In Tucson, AZ.  In Yuma, Arizona.  In San Tan Valley, Arizona.   

Nevada, Oregon and Washington: In Bellevue, Washington. In Eugene, OR. In Everett, Washington.  In Henderson, NV.  In Kent, Washington.  In Las Vegas, NV. In Olympia, WA. In Portland, OR. In Reno, NV. In Seattle, WA. In Olympia, WA. In Paradise, NV. In Portland, OR. In Renton, Washington.   In Salem, OR. In Seattle, WA. In Sparks, NV. In Spokane, WA. In Tacoma, WA. In Vancouver, Washington.  In Yakima, Washington. 

Alaska, Hawaii and California,

Representatives service the following cities in the Western Region: In Anaheim, CA. In Anchorage, AK. In Bakersfield, CA. In Carlsbad, CA. In Chula Vista, CA. In Fontana, CA. In Fremont, CA. In Fresno, CA. In Hayward, CA. Ini Honolulu HI. In Irvine, CA. In Madera, CA. In Modesto, CA. In Merced, CA. In Oakland, CA. In Ontario, CA. In Oxnard, CA. In Riverside, CA. Roseville, CA. In San Francisco, CA. In San Jose, CA. In San Diego, CA. In Santa Ana, CA. In Santa Clara, CA. In Santa Rosa, CA. In Sacramento, CA.

In Salinas, CA. In San Bernardino, CA. In Santa Barbara, CA. In Santa Maria, CA. In Sunnyvale, CA. In Stockton, CA. In Thousand Oaks, CA. In Vallejo, CA. In Ventura, CA. In Visalia, CA.

Landlord Contact Information

Landlord contact information: What is it?

Landlord Contact information is the Name, address and Telephone number of a person or business’s Landlord.  It is used to verify personal residence or a business location.

Examples of Landlord Contact Information: 

A business owner applies for a business loan and is approved.  One of the closing stipulations is to get Landlord Contact Information. If the business owner is asked to get this, they can consider other types of business loans that do not require it.
To get a business loan without providing this, contact us below at SmallBusinessLoansDepot.com for other options.
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Or call us at Tel:  1-919-771-4177.  Question? Contact us here.

Did you know?

Customers do not always have this contact information. What to you do if you are a Home based business and are being asked for this information?   What if you are also the owner of the property and it is paid off?

Let the person requesting this information know you own the property and also if it is paid off.    If you are Home Based, let them know this.   Being home based is often acceptable and you will instead be asked for other information to satisfy this requirement.

This information is requested for many reasons.   Most often when someone is requesting a product or service, and also entering into a Contract.

Landlord Contact Information
What is Landlord Contact Information?

Requests and statements by callers below include:
Why am I being asked for Landlord contact information and what
should I provide?
Give whatever information is asked for.   If you are not sure why it is being requested, ask why.   Sometimes a Lender will try to call the Landlord as part of a personal loan or business loan request.  Ask the Lender if they will call your Landlord.   If so, give your Landlord a heads up to expect a verification call.   Many loans are delayed because they don’t know they will be getting a call.

Learn more about Landlord Contact information.

Recent examples from the Web:

Types of Emergency contact requests:

Payoff Letter

Definition of a Payoff Letter.  What is a Payoff Letter?

A Payoff Letter is a letter that is required often by a Lender proving that other loans the borrower had are paid off and have a $0 Balance.

Examples of a Payoff Letter:

– A request to show other small business loans are paid off.
– A request to verify that a credit card is paid off.
– A Letter showing that a similar type of loan has a zero balance and is paid off.
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Did you know?

These Letters are also called a “Zero Balance Letter”.   They are often referred to this way to emphasize that the Letter needs to show that the balance is Zero.

Why are they requested?

Lenders may want to make sure that certain loans are paid off in order for them
to be willing to approve and fund a new loan.

Payoff Letter
What are Payoff Letters?

Customers cannot always provide this letter.
Sometimes customers are not well versed in this field.  Another reason is they also don’t like getting paperwork together and are unsure how to do it.   Customers also see it as a burden that they do not have the time or desire to deal with.

How to Handle a Payoff Letter request:

If a Lender asks you to provide a Zero balance letter, find out which Institution it is.
If you have more than one loan with that institution, get the Account number to make sure you will be getting the information for the correct account.    Once you have this information, call the customer service number for that Lender.

Tell the Representative what you need and they will transfer you to the correct department.  Most Companies have specific Departments that handle this type of request.   You will be routed to that Department and they will provide the Letter.  In most cases you will receive the Letter in 2 to 4 hours.

If you have been asked for this type of Documentation, call us to discuss.   Explain what you are being requested to provide.   There are other Financing products that do not require this and other forms of verification.   You can apply for other Financing options and avoid having to provide this type of Documentation.

FAQ Frequently asked questions on a payoff letter

What is the payoff letter?
A payoff letter is issued by the lender. It shows the amount required to payoff the borrowers existing loan by a certain date for the loan to be fully paid off. They often contain dates by which the payment must be made and how much the payoff increases each day or month if it is not paid by that date.
What is a payoff demand letter?
A payoff demand letter is issue by a lender that requires the borrower to payoff the transaction. It includes the total amount required, a pay by date, account number and payment options. I typically states consequences for the borrower if the demand is not met. Borrowers are best served to review their loan contact carefully and possibly seek legal counsel if they receive a demand letter.
What does it mean to request a payoff?
To request a payoff, a borrower contacts the lender and asks how much is required to be paid to pay of the loan they have, and also the date the lender needs the payment by. The lender will usually send the borrower an official letter verifying the payoff quote. After payoff, borrowers should verify the account was fully paid off.

Learn more about other types of request for proof of Documentation such as
Proof of income.

Recent examples from the Web:

Therapeutics Corporation entering into a Payoff Agreement and Letter.

Copy of Business License

Definition of a Business License.  What is a Business License?

A Business License is a Certificate issued by a City, County or State Government to a business it can use as verification of it’s existence and to legally operate in the jurisdiction it is located in.  Another purpose for a copy of Business license is that it is required for numerous types of Business Transactions.
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Copy of Business License

Examples:
Business Licenses fall into certain Categories.
– General City or County Business license.
– Professional Licenses.
Get a business license or articles of incorporation if you are new or start up business.   You will need this to operate your business later and get financing.  Professional licenses are often in addition to professional licenses.   Examples of these are Medical Licenses, such as a Physician, a Dentist and a Chiropractor.   Other types of Professional Licenses can include certain types of Construction, Engineering, Real Estate Agents and many more.
These types of Professional licenses are often in addition to a standard business license that is required by the City or State.

Copy of Business License
Ways to show a Copy of a Business License

Did you know?

Some business legally operate without a Business License?
Some States do not require a business license to legally operate.   States may allow, but it can make operating much more difficult for the business.   Other businesses that require a business license to do business with them will not waive their requirement.  It will not matter to them if the State does not require it.   They will still require one.

The following are frequent Questions, requests and statements:
– “I do not have a business license”
–  “Need a business loan with no Business License”
If you do not have a business license, it is recommended to get one.   If your business was a Sole Proprietor, save all of the old Business licenses that you had.

Learn more about Business Licences.

Recent examples from the Web:

Consequences of not having a business license.

Voided Business check

Definition of Voided Business Check.  What is a Voided Business Check?

A Voided Business Check is sometimes required to close a business loan or to complete other types of transactions related to the business.   If this is required and your business does not have standard business checks, ask the lender if there are alternatives.
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Examples of a Voided Business Check.

Example of a Voided Check.  This is also referred to as a voided business check.   The Account Holder takes a check and writes in large font,  “void” on the check.    They can then take a picture of the check and send the picture as a .jpeg, or .png file, or .pdf file.

Did you know?

Businesses are writing far fewer checks than in the past.  ACH payments, incoming and outgoing wires and debit card transactions today make up a significant number of the payments that businesses used to write checks for.   Some business do not have nor write standard business checks any longer.

Voided Business Check
Voided Check

What can you do if the Lender  is asking for a copy of a voided business check and you do not have any?  What options are there?
– Ask the Lender what other options they offer.
– Lenders have some of the following options:
– Bank Verification.   Through this secure option, the Lender can look at the Account holder’s account and verify the validity of the account.   The Party looking at the account
cannot access the account as well as cannot make any changes or any transactions.

Callers often request and call in with the following:

– I do not have a voided business check, what can I use?
– How can I get a voided business check?
The only way to get a voided business check if your business does not have any is to
order checks the traditional way through your financial institution.    In most cases if the checks are needed quickly, expedited service can be requested for an extra $20 to $40.
If you do not have the time to order checks and wait on them, you may want to let the funder do a secure bank verification.   A bank verification is often required anyway, and
It may allow you to get around this requirement.

Question:

My voided check does not have the name of the company printed on it.
What can I provide?   If your voided check does not have your company name or business name on it, you can get a bank letter as follows:

  1. A bank letter from your bank.   What is a bank letter?  A bank letter is a letter written by the bank that confirms the details of your business checking account.
  2. Review the letter to make sure it confirms the business name, business address, telephone number, routing and transit number and account number.
  3. Give the letter to the lender as confirmation of your business checking account.

Recent examples from the Web:

How to void a check using Quickbooks

Proof of Ownership of the Business

Definition of Proof of Ownership.  What is Proof of Ownership of the Business?

What can a business owner show as a proof of business ownership document?   How to prove you are a business owner.

Examples of Proof of Ownership of the Business.  

A business owner applies for a business loan and is approved.
One of the closing requirements is for the Owner to provide Documentation of Ownership of the Business.  The Business Owner does have a few options in providing Evidence of Ownership of the Business.   They can also provide:
– Current Business License.
– Articles of Incorporation or a Partnership agreement.
– K-1 of the most recent Business Tax Return.
– The most recent Full Business Tax Return.
If  you cannot provide the types of documentation of Ownership required for your business loan,  contact us below at SmallBusinessLoansDepot.com for several funding options such as bank statement loans that make the process of proof of ownership much easier.

Secure DocuSign 30 Second Application here
Call us at Tel:  1-919-771-4177, or Question? Contact us here.

Proof of ownership may be required for other funding options such as a
loan against equipment, an asset based loan,

You don’t have any proof of business ownership and don’t know what to do?

Sometimes Business Owners cannot prove ownership of a business that is required to close a business loan.
How to prove business ownership in other ways?  What is the lender is asking for?  There are other options in addition to the ones listed above.
If you cannot prove ownership now, review fixes below:

How you can fix the problem of cannot prove business ownership.

  1. Get an updated business license. Your city or county can reprint or resend a copy of your business license.
  2. Update your articles of incorporation. Contact the secretary of state and request the articles or update the articles to show your ownership.
Proof of Ownership
What is Evidence of Ownership?

Evidence of Ownership is often required.   The person applying in the name of the Company needs to prove they are the Owner.   This prevents other people from getting Loans in the Company name that are not authorized to do so.    It also can help break down the Ownership percentage if there is another Owner.

The following are frequent requests and statements:
– What do I need for Proof of Ownership.   I don’t have it and also cannot provide it.   What can I do?     There may be alternatives that are accepted for proof of ownership.

Learn more about Proof of Ownership.

Recent examples from the Web:

Proof of Income: All the ways to prove income

Proof of Income is documentation or other evidence that is used to prove the income of an individual or business.

Examples of Proof of Income: 

A business owner applies for a business loan and is approved.
One of the closing stipulations is to show evidence of income.  The following is a list of the most accepted forms of proof for businesses and individuals:
Tax Returns
Pay Stubs or W-2 Statement
Bank Statements
Financial Statements such as Profit and Loss and Balance sheets.
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Did you know?
Proof of your income is required for larger loans, such as a large business loan or personal loan.

If a business owner cannot show documentation of income, they can consider other types of business loans that may not require it, such as certain asset based loans.

Customers cannot always show the type of documentation of income that is being requested.
What if you cannot provide documentation of your income? Then see our FAQ Frequently asked questions below.

FAQ Frequently asked questions on proof of income

I am being asked for proof of income. What is proof of income?
Proof of income is documentation like a pay stub, copy of a paycheck, tax returns or business or personal bank statements that show your personal income or business income
Our proof of income was not accepted because we filed an extension for the current year. Why would an extension not be accepted for proof of income?
Some lenders do not accept an extension as part of their proof of income request. If you filed an extension then the lender does not have current or recent proof of what you have been making. For example, if you filed an extension for your business or personal taxes by April 15, 2019 for the tax year 2018, then your most recent complete tax return is for 2017. If you apply for a personal or business loan or need to provide proof of income for anything then your income information is 2 years old. That may be unacceptable to lenders and others, which is why they may reject your tax extension filing.
Are bank statements proof of income?
Bank statements are not the best proof of income. They do not take into account business or personal deductions from your gross income. Some lenders may accept personal bank statements and add back an estimate for taxes paid. Business bank statements will show gross receipts for a business but not net income. For a business loan the lender wants to consider if your business has the disposable income to service the new debt. They will look at what the disposable monthly income is for your business and if it is more than the new payment you have to make on a loan.
Isn’t my good credit proof of income? If I am paying my bills then what does it matter how much my business makes?
Even if you have an excellent credit score, proof of income shows that you have income now. If you were recently laid off or are not working now then a good credit score is not enough. Lenders are not repaid from good credit scores. They are repaid from income and the ability of the borrower to pay based on their income less their debts.



There are other funding Options.   Call us to discuss these options.

Proof of Income
What is Proof of Income?

Evidence of Income is requested for many reasons.  Most often they are completed when someone is requesting a product or service, or entering into a Contract or Relationship with someone else.   They are not always looked at the same way.   What is looked for is totally up to the party that is pulling the report and also what they decide about the information.

The following are frequent requests and statements:
– I do not have Proof of Income.  What can I do to provide what is needed?   Other ways to show evidence of income sending Bank Statements.  If all of a person’s income goes into 1 Account, then the most recent bank statements for that account may be used to prove income.  This can be done for a business or an individual.

In summary: Questions and issues addressed:
What is proof of income? How can I prove my income? Give your pay stub, copy of paycheck, tax return, or bank statements and other ways to prove income.

Learn more:

Recent examples from the Web:

Evidence of Income

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Proof of Insurance on Collateral

What is Proof of Insurance?

Proof of insurance for Collateral is required for many types of transactions and contracts, including business loans.

Examples: 

A business owner is approved for a business loan.   One of the requirements for closing is to show Full Coverage insurance.   For businesses without insurance, consider other types of business loans that do not require it.
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Or call us at Tel:  1-919-771-4177.  Get a business loan without proof of insurance.  

Customers cannot always show evidence of Insurance.
What can you do if you cannot show Proof of Insurance for a business loan?
Get low cost insurance to show the coverage you need.   This is
probably the best option if you need to get business funds soon and are already
approved for a loan.

Proof of Insurance
Does your Transaction require Proof of Insurance

Get funding through a different type of loan which
may not need to show Full Coverage Insurance, including a Bank Statement Loan, an Accounts Receivables loan, and also a loan based on Stocks.

Why is Insurance needed?   Can Insurance be waived?
If Insurance is needed to complete a Transaction, it will not likely be waived because the Lender needs collateral coverage.
Insurance covers the replacement cost of the Asset and the Lender may be approving the loan based on the asset.  The Lenders needs insurance because if the Collateral is damaged, a total loss or stolen, the Lender cannot recoup their losses.   If the Lender does not have this coverage, they probably would not have approved that type of financing.

So if you cannot get and afford full coverage insurance, then instead you can also look at other business loan options.

The following are frequent requests and statements:
– I do not have insurance and full coverage insurance on my Collateral.
– Cannot show proof of insurance on my Collateral, Asset or Equipment.
– I need a business loan without  Proof of Insurance.

Learn more about insurance requirements:

Recent examples from the Web and more Articles from the Web:

Full Coverage Insurance