{"id":1649,"date":"2015-03-11T21:57:01","date_gmt":"2015-03-11T21:57:01","guid":{"rendered":"http:\/\/trustevoque.com\/blog\/?p=211"},"modified":"2015-03-11T21:57:01","modified_gmt":"2015-03-11T21:57:01","slug":"why-would-a-bank-not-loan-to-a-small-business-owner","status":"publish","type":"post","link":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/why-would-a-bank-not-loan-to-a-small-business-owner\/","title":{"rendered":"Why Would a Bank Not Loan To a Small Business Owner?"},"content":{"rendered":"

\"score\"<\/a><\/p>\n

There\u2019s a long list of things that will cause a conventional mortgage lender to refuse to\u00a0lend you the money you need to purchase your dream home, ideal office building or\u00a0refinance your property. I\u2019ve always found it somewhat of a mystery that some very\u00a0financially sound folks end up in that difficult and emotionally draining situation.<\/p>\n

The reasons people are turned down for loans can usually be traced back to a single\u00a0number on a sheet of paper. For many, it\u2019s a credit score. Often a prospective borrower\u2019s\u00a0score is low due to a piece of ancient financial history that has long been corrected.<\/p>\n

Reducing income tax<\/strong><\/h2>\n

Small business owners can also find themselves in this situation. If you\u2019ve ever been in\u00a0business for yourself, you know that you can find perfectly legal ways to reduce the\u00a0amount of income tax you pay. For example, you can make investments in your business\u00a0or large contributions to your retirement account.<\/p>\n

However, these strategies make your net income look low. Banks and other conventional\u00a0lenders don\u2019t see past the fact that many of those income-reducing expenses are\u00a0discretionary. The business owner doesn\u2019t have to spend the money for those things; a\u00a0good chunk of it can go to the business owner\u2019s yearly income to support the payments\u00a0required by the new property purchase.<\/p>\n

That\u2019s why at Evoque Lending we work hard to honestly judge a borrower\u2019s ability to\u00a0make monthly payments. A single number on a piece of paper doesn\u2019t mean much to us.\u00a0We want to know what the person\u2019s real situation is and determine what kind of\u00a0payments the borrower is truly able to make.<\/p>\n

Fairness for borrowers and investors<\/strong><\/h2>\n

We think that is fair for everyone and protects everyone\u2019s interests. We know that\u00a0borrowers really don\u2019t want to overextend themselves and put them and their families in\u00a0financial trouble. Further, investors want to be sure that the people they are loaning\u00a0money to won\u2019t have trouble keeping up their payments.<\/p>\n

The other thing that we look at evaluate carefully when making a loan, is the value of the\u00a0property that is being borrowed on. For everyone\u2019s safety, we want to make sure that the\u00a0real estate is being properly valued. Again, no one wants to be paying too much for a\u00a0home or office. Because we have been writing First Trust Deeds on Los Angeles real\u00a0estate, Orange County real estate and San Francisco area real estate, we have a lot of\u00a0experience in this area. We also work with excellent appraisers.<\/p>\n

We\u2019re here to serve you<\/strong><\/h2>\n

I think you\u2019ll find that Evoque Lending is also far more customer service oriented as\u00a0well. We\u2019ve heard some real horror stories about banks stringing borrowers along for\u00a0weeks, only to deny their loans at the eleventh hour. Evoque Lending can give borrowers\u00a0approval in 24 hours and close in seven to 10 days.<\/p>\n

We want to earn your business and also let you know that you can refer your family and\u00a0friends to us with confidence. So if you\u2019re having difficulty obtaining a loan, please take\u00a0a minute or two to contact us. You can call our toll-free number or drop me an email. We\u00a0can quickly get you up to speed on the process and answer all your questions.<\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s a long list of things that will cause a conventional mortgage lender to refuse to\u00a0lend you the money you need to purchase your dream home, ideal office building or\u00a0refinance your property. I\u2019ve always found it somewhat of a mystery that some very\u00a0financially sound folks end up in that difficult and emotionally draining situation. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1649","post","type-post","status-publish","format-standard","hentry","category-lending"],"_links":{"self":[{"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/posts\/1649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/comments?post=1649"}],"version-history":[{"count":0,"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/posts\/1649\/revisions"}],"wp:attachment":[{"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/media?parent=1649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/categories?post=1649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evoquelending.com\/usa-commercial-hard-money-lender\/wp-json\/wp\/v2\/tags?post=1649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}