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Posts Tagged ‘Businesses’

Obtaining Financing for Small and Mid-size Businesses Written 9/20/2008 Somewhere along the way your company will probably borrow money. There are a few things every business owner should know before starting the process…    In today’s highly scrutinized and regulated mortgage climate, lenders are increasingly looking out for their investors. This makes finding the right lender – borrower relationship more difficult than in any time in recent decades. Despite this complexity, there is substantial money available for properly prepared and qualified borrowers. As such, borrowers should learn how to successfully proceed in today’s complex markets. This article will serve as a primer outlining the steps, some principles, and business terms that are common in many types of business loan transactions. Step 1 – Ask Questions: Asking basic questions of the lender or your broker prior to starting the loan process can help save valuable time and increase the chances of Read More

Church lending can be intimidating even to the most seasoned loan officer or loan originator. However, financing a church and its dreams are not too difficult to master. The church loan or loan for religious use are not ordinary by any stretch of the imagination. Yet they can be rewarding and you can even make some money in the process. There are a few basic fears that keep most from lending on Churches. Qualifying. Churches are not-for-profit organizations. So, they don’t have tax returns nor do they have traditional methods of determining income for qualifying. So, again most lenders will steer away from anything that is not traditional. When lending on a church the first criteria is to determine the denomination. Yep, denomination. Reason being that not all loan programs will lend to just any denomination. A statistic I picked up from the US State Department, is that there are 565 organized and recognized religions in the world. From mainstream to off beat, they exist. Read More