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05-30-2014, 08:37 AM #1
Question: Bank Statements
UPDATE: DEAL IS DEAD. Client stated he had a biz account and closed it because he needed his funding to show in his personal account for a home mortgage and just never reopened it.
Got in a new app yesterday, transportation broker who does not have a business bank account, but uses his personal account. Never had this come up.. Are there funders who will accept his personal statements opposed to requiring business??????Last edited by 1StopFunding; 06-09-2014 at 02:18 PM.
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05-30-2014, 10:29 AM #2
- Join Date
- May 2014
- Posts
- 317
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05-30-2014, 10:31 AM #3
- Join Date
- Jan 2013
- Posts
- 151
Question: Bank Statements
Rapid advance might if it's a sole prop
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05-30-2014, 10:52 AM #4
Thanks much!
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06-08-2014, 12:03 PM #5
- Join Date
- Mar 2013
- Location
- Miami
- Posts
- 28
Question: Bank Statements
I don't know of any. The risk is that debiting a personal account puts you at greater risk of your ACH being pulled back by someone trying to scam you or not pay. Usually if they want the money they will open a business account, but then you have to decide if you trust that they will use it going forward.
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06-09-2014, 12:33 PM #6
Sole Props can file a DBA and open an account under that name.
Anthony Diamond
Underwriter
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