Results 1 to 7 of 7
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01-24-2018, 02:06 PM #1
- Join Date
- Nov 2017
- Posts
- 64
Home Builder Needs Funding but Doesn't have Business Bank Account
I have a guy looking for 20K in funding to complete a project they are home builders. The biz is a Sole Prop though and they do not have a Business Bank Account set up. Do you think that is going to be an issue for getting an approval?
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01-24-2018, 02:25 PM #2
I've gotten approvals with personal accounts, but it always gets killed the second UW catches on.
Although, once I got a file that got funded through a personal account. Deposit, daily pulls, whole nine. How that got pulled off is beyond me, but as far as I know its a one out of a million situation. So yes, big problem.
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01-24-2018, 04:10 PM #3
LoanMe may make it work if he has some sort of entity
Jonathan Kohanoff
B.R.E. #01962090
Diamond Business Loans
Beverly Hills, CA 90211
jon@diamondbl.com
www.DiamondBL.com
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01-24-2018, 04:13 PM #4
- Join Date
- Apr 2015
- Location
- Louisiana
- Posts
- 299
If it is a sole prop and the checking account is john doe DBA johns homebilders, AND the bank account is a commercial checking account it can be done. Most lenders will take that.
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01-25-2018, 11:08 AM #5
- Join Date
- Nov 2017
- Posts
- 64
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01-25-2018, 11:09 AM #6
- Join Date
- Nov 2017
- Posts
- 64
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01-25-2018, 11:15 AM #7
- Join Date
- Mar 2016
- Posts
- 186
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