How can I get out of multiple advances?

What are multiple cash advances?

When a business has more than 1 cash advance, they have multiple advances

Get started now on multiple fast solutions that are safe for your business!

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Frequently asked Questions, FAQ How can I get out of cash advances?

How can I get out my mca advances without defaulting?

You can either pay them all off through a consolidation, or refinance and extend the term several more months. You may even qualify to extend the term for up to 5 years with credit scores over 600 and strong sales.

How much lower can you get my payment if you pay them off?

Your payment is reduced between 35% and 75%. The fewer number of months you have left on your advances now, the longer your refinance can be extended on a payoff.

Do you negotiate with my current advance companies?

It is not necessary to negotiate with your current mca companies. They are fully paid off and satisfied so there isn’t any need to talk to them. There will not be any other outstanding debt with them.

Can I get my advances paid off if I am behind on payments?

Asset based programs can be used to pay off delinquent mca accounts. Some unsecured programs may qualify if you are not severely delinquent. If you have already defaulted, then the asset
based route will work best to clear out your balances.


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 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.  Longer term options are also available, such as weekly and monthly payments.

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

How can you pay them off?

  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.   Apply above or call us at Tel: 919-771-4177.

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



How to get a real estate merchant cash advance

What is a Real Estate Merchant cash advance? 

A business loan with terms up to 2 years using real estate as collateral structured like an mca is considered a cash advance backed by real property. Apply below today!

  • Residential or Commercial
  • Lower Weekly or Monthly Payments
  • Higher Approval Amounts
  • Longer terms: 1 year to 2 Years

One of the closing requirements is residential or commercial real estate with enough equity in the property to cover the amount of the loan.  The borrower can offer:

⭐ Commercial Real Estate
⭐ Residential Real Estate
⭐ Raw Land

Apply below for fast funding

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or Question? Contact us here.

Frequently asked questions F.A.Q.: How to get a real estate backed merchant cash advance

Why should I offer real estate?

Using Real Estate gets you much higher approval amounts many times. You can also get cash out in addition to paying off advances, and rates are lower.

What are the advantages of using property?

The term is much longer and so the payment is also. Much lower payments help consumers avoid delinquencies, defaults, charge offs and future collection efforts when they are sure they can make the payments. Protecting your credit means your entire credit file, score and history will be preserved for you to use in the future.

What is the approval process?
Provide only the application and basic information on your real estate initially, including any recent appraisal you have. After an offer is made, closing documents are issued. When you have sent in completed docs and closing items, a closing call is made to you. The transaction is funded after the merchant call.

What if I already have advances?
You can still qualify with advances on the books now. The new loan can be more capital and you can payoff all other short term loans. Traditional lenders rarely will approve customers with short term advances. This option allows you to have mca’s now.

Does my property have to be free and clear?

The real estate does not have to be owned outright and only needs enough equity for the new loan. You can have a 1st or 2nd mortgage on the property and still qualify if there is enough equity.


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.

        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.

        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.

        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

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

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 may be giving landlord contact Information so the lender can get a landlord waiver.   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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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.

What is Landlord Contact Information?

Requests and statements by callers below include:
Why am I being asked for this information and what
should I provide?
Ask why the information is being required and provide if the request is reasonable.   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.

Learn more about Landlord Contact information.

Recent examples from the Web:

Types of Emergency contact requests:

Payoff Letter: How it can help you with Loans

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

A Payoff Letter is a letter that is often required by a Lender to prove that other loans you have are paid off and have a $0 Balance.

Examples of reasons Payoff Letters are requested:

    • 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.
      • Many 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. Get a loan with out one, apply below.
         
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        Did you know?

        These Letters are also called “Zero Balance Letter”

        They are often referred to this way to emphasize that the Letter needs to show that the balance is Zero.

        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 Payoff Letter Questions

        What is a Payoff Letter?

        A payoff letter is sent by a lender showing the amount required to payoff the borrower’s loan by a certain date. It often shows how much the payoff increases each day or month when not paid by that date.

        How can a Payoff Letter help me?

        It proves the total amount you owe to a lender. Without it, a new lender has to guess or estimate how much you owe. Lenders may offer less or decline your request without this information.

        How do I get the letter?

        Contact your existing lender and ask them to send you a payoff letter. Ask them to address it to whom it may concern and put a date through which the payoff is valid.

        What is a payoff demand letter?

        A payoff demand letter is issued by a lender that demands the borrower to payoff the transaction. It includes the total amount owed, a pay-by date, account number and payment options. It also lists next step consequences if not paid.

        What does it mean to request a payoff?

        Requesting a payoff means a borrower contacts their lender and asks how much is owed to payoff their loan and by what date. After payoff, borrowers should verify the lender shows their loan fully paid off.

        What is a Zero balance letter?

        A zero balance letter is issued by a previous lender to a borrower to show their loan has been paid off and has a zero balance. New lenders may ask for this when considering a loan.

        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

What is a Business License?

A Business License is a certificate issued by a City, County or State Government to a business.   The license legally verifies the business and the  right to operate.    Many business transactions require a business license.

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F.A.Q.: Frequently asked questions on needing a copy of a business license

Is a business license required to get a business loan?

A business license can be required by the lender. It legally proves that your business exists and verifies the exact legal name of the business in which all contracts and documents are written.

What if we are a home based business?

A residential business address is almost always accepted by counties, cities and states.
If a business is home based and rents their location, the landlord’s signature may be required to show the approval of the property owner.

What do we need to have to get a business license?

A current driver’s license at minimum, valid business address and payment. The Tax Identification number may also be requested.

How fast can we get it?

A temporary license can be issued when applying and the hard copy is sent regular mail.
Businesses that interact with the general public must post their license immediately.

Where do we get a business license?

Business licenses are issued in the city or county for the address the business is located in.

How much does it cost?

Business licenses are usually a flat rate for Corporations at the State level. City
and county charges are often a percentage of gross receipts. The higher the gross
receipts, the higher the cost.

How long is it good for?

Most business licenses and articles of incorporation are good for 1 year. States may
let companies purchase the license for several years in advance.

What if my state doesn’t require a business license?

Some States do not require one. However, it is in the interest of your business to get a license. Many other companies will request proof of the existence of your business for certain transactions such as contracts, leases and banking.

What is a dba?

DBA stands for doing business as. This is called a fictitious name and how the business is known to the public. As an example, Acme, Inc. dba all star tire.

Is there an inspection of my location before approval?

Inspections are rarely done if the business is not a retail location and does not
serve food and beverage.

Does the name of the owner have to be on the business license?

The name of the business owner does not legally have to be on it. Sole proprietorship licenses do show the owner’s name. Corporations have the names of the owners on the original articles of incorporation and ownership updates at the Secretary of State.


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 because you  will need this to operate your business later and get financing.  Professional licenses are often in addition to professional licenses.   For example,  medical licenses such as a physician, dentist and chiropractors require additional licenses. 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 required by the city or state.

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 and will still require one.  Get a business license.  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: How To Get & Use

Definition of 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.

Business Loans that Close-Secure Docusign Or Call Tel: 919-771-4177

Frequently asked questions FAQ: Copy of Voided Business Check

What is a copy of a voided check?

It is a check drawn against a personal or business account. The owner of the account
writes the word void in large letters across the face of the check. This prevents
that specific check from being negotiated.

Why is it required?

It is requested as a way to confirm the exact account information. This includes the
name and address of the business, routing number and account number. Lenders often
use this information to wire funds into the account after a loan is closed.

What can I offer if I don’t have a copy of a voided check?

A letter from the bank confirming the same information that is found on the check.
The local branch can create the letter. The original paperwork issued by the bank to
the account holder has that information and can also be provided.

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.

Recent Trends

Businesses have been writing far fewer checks than in the past for several years.  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 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: How to prove

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 isn’t hard.  There are several ways including a letter or certificate.

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 page or entire most recent Business Tax Return.
TIN letter.

The TIN letter from the IRS may be accepted.   This letter shows the Tax Identification Number issued by the IRS to the business.   It is address to the business at the business address provided.

If  you cannot provide the types of documentation of ownership required for a business loan,  apply or contact us below at SmallBusinessLoansDepot.com.

Several funding options such as bank statement loans that make the process of proof of ownership much easier.

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FAQ proof of ownership

What is proof of ownership?

Verification of ownership are documents that show ownership of an asset or business, such
as a car, house or other property.

What is required to prove I am the owner?

Clear titles and deeds are accepted as proof of ownership of property. A business license,
articles of incorporation, K-1 page of the most recent tax return and Tax Identification Number letter from the IRS
are usually accepted to certify ownership of a business.

Why do I need to verify I am the owner?

It is required to document that you can legally transfer or sell an asset in your possession. It also
confirms there are no liens against the asset and you have full and clear title to transfer and sell.

What if we don’t have the documents needed?

Alternative documents may be acceptable. Try to negotiate any substitute documentation
you can provide. For example, a bill of sale might be an accepted alternative for non titled assets.

What if there are multiple owners?

All the owners have to approve and sign off on any transfer, sale or pledging of an asset. Owners
who do not consent can sell their interest to the remaining owners who can retitle and negotiate the
asset.

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.
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

Definition: 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:
Employer Pay Stubs
Tax Return
W-2 Statement
W-9 Statement
Bank Statements
Other Deposit Account statements

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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 proof of income

What is proof of income?

Proof of income is documentation used to verify personal or business income.

What is accepted as proof of income?

Employer pay stubs, tax returns, business or personal bank statements and other account statements are usually accepted as proof of income.

Why do I have to prove my income?

It is often required to verify you can make future payments that you are not making now. This is often for a new car, apartment or mortgage payment. It is also requested for personal and business loans and when buying into franchises or selling a business.

Can I add my spouses income to my income?

You can add spousal income to yours when you represent it as household income. List your income alone when you apply for something individually. If you do not have income and are applying alone, itemize it as spousal income or household income.

Can my credit prove my income?

Good credit shows you have enough income to pay the debts on your credit report now. It does not show if you can pay new debts or loans. The credit report also does not include all of your monthly expenses.

Are bank statements proof of income?

Bank statements may be used to show gross income or receipts. They cannot show all business or personal deductions from your gross income, or net income. Lenders wants to know if your business has the disposable income to service the new debt.



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

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

Contact us today for program options.

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 on collateral, 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.

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 and can it 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, 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