Frequently Asked Questions
Why should I consider using a loan broker?
Securing the proper business credit with the ideal Ahkello Witherspoon Jersey bank is time consuming Ahkello Witherspoon Authentic Jersey and frustrating. Many Ahkello Witherspoon Womens Jersey times a business owner will spend weeks or months working with a banker, only to find that the bank does not specialize in the desired loan type or will not loan to the business based on some internal bank criteria or undisclosed factors. Examples of unworkable situations:? requests for collateral that is far greater than the amount of the loan, or? denials based solely on the individual bank’s recent loss history in the borrower’s business category.
Most of our clients obtain their funding in 1 to 3 months. The actual length depends on the complexity, terms, conditions and any special considerations.
What information will I need to provide?
A typical loan package consists of:
- Outline of who you are, why you are requesting financing and your business plan
- 3 years personal and corporate (if any) tax returns
- Business plan (if you have one)…. if not, we can help develop one
- Specific uses for the money…. when the loan comes in… where EXACTLY the money will go
- Office leases…. etc. We need copies of these.
- Interim financial statements (we can help with this)
- Resume of principle owner(s)
- Collateral offered
- Repayment source
- Current Banking relationships
- Any special circumstances
- Personal financial statement
How much will it cost?
Cost is determined by size of loan and complexity of transaction.