| Your commercial property loan is turned
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| | a smaller loan before it approves a
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| down - Why?? It is particularly tough to
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| | bigger one, especially with the sub prime
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| get an investment property mortgage loan,
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| | catastrophe that we're seeing today. A
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| and you will often find yourself rejected
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| | bad loan for lots of money is not good
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| for no clear reason. This can be
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| | for the lender or the borrower.
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| frustrating, but it is a learning
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| | When you are working out your business
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| experience. With each terrible rejection,
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| | plan, be realistic about how much you
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| you get a little wiser.
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| | need, and how much you are able to pay
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| Well, what if you could skip all of those
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| | back. It's nice to have more than enough
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| rejections and learn from others'
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| | money to start your business, but it's
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| mistakes? Let's look at the most common
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| | not so nice when you are struggling to
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| reasons why investment property mortgage
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| | pay the bills and have that giant debt
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| loans get turned down. Then, you will
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| | hanging over your head. Ask for just as
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| know what to expect when you apply for
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| | much as you need, and don't aim too high.
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| your financing.
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| | The Source of Funding
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| The Type of Business
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| | Most traditional lenders will want to
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| The most common reason that loan
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| | know detailed information about where the
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| applications are rejected is that the
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| | funds are coming from to make the
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| bank simply does not offer financing to
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| | down-payment. This is a reasonable
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| certain kinds of businesses. Banks loan
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| | request, but it can get those of us
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| money on the basis of possible risk, and
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| | seeking a loan into trouble. The reason
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| some business types are considered
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| | why this can be problematic is that they
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| riskier than others. If you are trying to
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| | may consider the source a high risk.
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| get financing for a golf course,
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| | Remember, they're not as optimistic about
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| restaurant, gas station or church, you
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| | your business as you are!
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| might find it tricky to get funding. On
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| | Many businesses finance their down
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| the other hand, if you are looking for
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| | payment by using funds from what is
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| funding for an apartment complex or
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| | called "subordinated debt." This
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| office building, it will be much easier.
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| | basically means some kind of secondary
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| What is your solution? Look for a lender
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| | financing, like a seller second. Banks
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| that specializes in that particular type
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| | and other traditional lenders don't like
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| of business. On the Internet, there are
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| | to see this. A non-traditional lender
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| all sorts of financing company options
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| | will be much more likely to approve a
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| available. Also, look for non-traditional
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| | loan that uses secondary financing as a
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| lenders who may be more likely to take on
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| | down payment.
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| what they consider riskier ventures.
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| | Finally, remember that we all get
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| Don't Ask For Too Much!
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| | rejected! Probably everyone you know who
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| A big problem that causes many rejections
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| | has started a small business has been
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| is that borrowers simply ask for too much
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| | turned down at least once, and most
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| money. A bank is always ready to approve
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| | likely many more times than that.
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