Archive for September, 2009
Verifying Your Income for Commercial Business Loans
Posted by: | CommentsLet’s take a brief look at the differences between commercial loan requests from business owners and investor loans.
Business Owners
One of the more involved requests Donald Hunter™ Financial makes is for your Business Tax Returns. This is typical when we finance owner-user business line of credit or commercial loans since your business will be listed as a guarantor of the loan.
Three years of returns are usually required so that your Business Financing Expert can confirm positive trends in your business. If you own at least a 20% share of other businesses, then the tax returns of those companies may be required to see their effect on your ability to repay your new commercial loan.
Donald Hunter™ prefers enterprises that produce cash rather than ones that only have cash going into them!
Be aware that Donald Hunter™ most likely will base his debt service calculations on the most current tax year, not on the interim statement (unless it is audited).
Investors
For investment property, when a borrower is self-employed or owns at least 20% of a business entity, Donald Hunter™ will request your business tax returns. The business is typically your chief source of income even if you have a large collection of performing properties. Analyzing the cash flow of a large portfolio requires much more.
Our goal is to help you succeed and prevent getting you in a bad situation by placing you into a commercial loan that may sink your business in the future or jeopardize your investment portfolio. Remember that when we request proper documentation from you, is because we want to help you complete your financial picture to verify your ability to afford the new commercial loan.
Donald Hunter
Business Financing Expert
www.DonaldHunterFinancial.com
866-323-9123
How to get Small Business Funding
Posted by: | CommentsIn today’s economy it should not be difficult for a small business to get the funding they need. Yet, many small businesses struggle with financing because of their credit. The easiest way to qualify for financing is to clean up your credit history.
Donald HunterTM Financial looks at the following compensating factors to boost your credit profile:
FICO scores
To be considered for a commercial loan in today’s economy, you need a minimum score of 640. The better your FICO score, the better rate you can expect to get. At Donald HunterTM Financial, we recommend a FICO score of 720 or higher to ensure the best results. Banks prefer businesses with a promising future. Even if you do not initially qualify for a low rate, if you believe that your business will grow, you have a good chance of getting funded.
Commercial credit
Demonstrate good credit by establishing a pattern of timely payments for twelve to fifteen substantial items such as car loans, charge cards and mortgages. Several of those items should be real estate loans active or successfully paid off.
Investment track record
To increase your chances of getting a lender to finance your next property it is important to have a solid investment history or “track record.” Establish your trustworthiness as a seasoned investor by putting together an investment resume including:
- Purchase history
- Management history
- Sale history
- Before and after photos of improved properties
Donald HunterTM Financial can assist you with any challenges you may be facing in order to help you present a strong case with our Total Commercial Services program. Click here to learn more about TCS.
Financing for Small Businesses
Posted by: | CommentsDonald HunterTM Financial is seeking real estate and financial professionals to join our Total Commercial Services (TCS) team
The Total Commercial Services Program gathers a team of expert professionals selected by Donald HunterTM Financial who work together to provide superior commercial finance services to small businesses.
Our clients often tell us that one of the most difficult aspects of starting a small business is the complexity of the process. Once they are established and need additional funding, they face many challenges. There is such a wide variety of lending, accounting, legal, and business-consulting services available, it is difficult to choose. The process of researching companies and individuals whom they can trust is too time-consuming for many, especially while they are also spending the majority of the time focused on their actual business. Moreover, they cannot afford to hire each individual professional necessary to meet their funding requirements.
Why join our Total Commercial Services Program?
- Because, if chosen, you would become part of a team of experts in various fields, increasing your potential for gaining new clients.
- Because it allows you the opportunity to offer clients a complete set of quality financing services beyond the single service you provide.
- Because the convenient, one-stop formula of the TCS program opens the doors for small business owners to remain strong.
- Because helping small businesses is the first step in rebuilding the U.S. Economy.
Call today and sign up for our TCS webinar to learn more about how the program works.
Protect Your Business Against Inflation
Posted by: | Comments
Business owners nationwide are worried about how the recession is going to affect their business. Some are not sure if their small business will survive. Are you one of those worried about how the rising inflation will affect your company?
Donald HunterTM Financial is here to help with secrets from the experts and an array of services for small business owners.
3 Secrets to Protecting Your Business Against Inflation
- Start Funding Now!
Our country is going through difficult economic times, yet there is a glimpse of hope. The good news is that the U.S. economy will eventually bounce back. When it does, you want your business to be ready. Once the recession is over, your business will be geared up for growth if you start funding early.
- Choose the right business to start up
Identify projects that yield a positive net present value (NPV) in order to start a successful small business. Once you have identified your project, start funding immediately since time is of the essence when requesting a loan. To improve your presentation is best to prepare in advance.
- Make a solid plan
Proper planning is the foundation of any business. If you want to stay above inflation, you must plan ahead.
We can help!
Donald HunterTM Financial offers a variety of programs to help your business grow. The programs are designed to assist you in every area of business planning. Our goal is to help you get funding now and enjoy financial success.
We would love to hear your stories on how the recession has affected your business. What has been your greatest challenge as a business owner? Together, we can work toward building up strong companies.
How to Start a Successful Small Business
Posted by: | CommentsHow to Start a Successful Small Business
Statistics show that 50% of small businesses fail within the first five years. How can you improve your chances at success? The truth is that developing a profitable company is rarely a matter of chance. There are specific steps you can take in order to shield your business from failure.
7 Ways to Fool-Proof Your Business:
1. Spend time gaining enough experience before venturing on your own.
2. Improve your credit in order to qualify for appropriate financing. Take the first step to improve your credit score with our Total Commercial Services Program.
3. Get proper financing. Too much or too little capital has a lasting effect on your business. At Donald HunterTM Financial we assist you in requesting and qualifying for the appropriate amount of money that you need. Contact us for information on how to get your new business funding.
4. Invest correctly in fixed assets.
5. Plan, Plan, PLAN! Write down a plan that works. Evaluate your plan continuously, comparing it to actual results, and update your plan as needed.
6. Choose the right location for your type of business so that you may position yourself where you can thrive.
7. Prepare your business for unexpected growth.
Vision, organization and trustworthy financial advice will keep your small business on the path to success. For information about Small Business Administration loans, listen to our SBA loan interviews. Let Donald HunterTM Financial help you set your business up for success.
