Frequently Asked Questions Q: Which clients are candidates for our Easy cash commercial loans?
A: Perfect candidates for our program are those who need financing for an income producing or commercial property, but are unable to qualify for traditional bank financing because they are unable or unwilling to verify income or assets. Business owners who want to take cash out of their property. Entrepreneurs and self-employed people who want to purchase a site for their business. Real estate investors who wish to put as little as 10% down (we allow CLTVs up to 90 percent)
Q: What type of income verification do you require?
A: Unlike banks and other conventional lenders that verify the borrowers personal income, we can pre-approve your clients with a completed application that simply states the borrowers income and assets. The only income verification required is on the property being financed. We require rent rolls and leases on properties with more than four units certified by the borrower. Our easy stated income/stated asset process allows your self-employed clients who cannot verify all of their income to qualify for financing through us.
Q: Can you finance environmentally sensitive property types such as auto repair shops?
A: Yes, but the owner may need to complete an environmental questionnaire that must be submitted with the loan package. The information is reviewed by an insurance company in order to determine whether or not the property poses an environmental risk. The cost of the premium varies depending on the loan amount and property type. The cost is approximately the same as a typical Phase I environmental report. By offering this environmental screening process, We can finance riskier properties that many other lenders will not. |
