Commercial Loans Blog

Bank Denied Your Business Loan Application-Now What?

April 23rd, 2018 4:01 PM by Karen Schimpf

 
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The Bank Denied Your Business Loan Application-Now What?    

Many people get denied on SBA loans and they believe that denial means they got shot down by the SBA. But the reality is that the bank turned you down. We can take that borrower, and because we have over 100 SBA lenders of all shapes and sizes, we can often get them approved for an SBA loan at the SAME RATES! In fact, over 90% of the SBA loans we close got denied by another SBA lender first! We have:

- Non-bank SBA lenders that do NOT require collateral for approval
- We can do second store financing less than a year after opening your first location
- We have conventional financing for businesses with multiple locations
- We can operate in ALL franchises even restaurants and, we can do most with only 10% down (except start-ups which always need 20% for a first location start-up)

You see, all lenders have tendencies. SO some lenders are all about the credit score and they will look past experience and other factors to do a deal for the borrower with great credit. Other banks key on experience and they are going to be more lenient on credit if the borrower has a proven track record. What I do is match the strength of the borrower with the lender most likely to approve them...the results? More approvals. We closed 3 SBA loans so far this month and all 3 got denied somewhere else first before coming to us. Check out our website www.ApplyCommercialLoans.com for many other examples of what we can do and if you are looking to start or expand your business-give me a call at (512)-650-8630

Karen Schimpf 
(512)-650-8630
karenschimpf at gmail.com      


Give me a call today to discuss your deal at 512-650-8630
Posted in:SBA
Posted by Karen Schimpf on April 23rd, 2018 4:01 PM

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