The reading level for this article is All Levels
One of the things that is certainly not easy in the modern economy is finding solid no doc bl fianancials. Business line of credit, business mortgages, and all sorts of other credit forms are much tighter today than ever before, and finding the financing that you need may not be as simple as it was back in the “free-wheeling†days of 2006. However, you should know that there are always ways to find the financing that you need, it is merely a matter of knowing where to look.
Finding the right financing starts with a solid bank search. You want to line up all of your potential lenders ahead of time, and engage the pre-approval process in one go. The reason is because it will keep you from having harm done to your credit. As long as all of your credit pulls take place in the same two-week period, effectively all of them, no matter how many, will only affect your credit score as though it was pulled once.
Your best choices of lenders will probably consist of small banks, credit unions, the SBA, and possibly even P2P alternatives. Small banks and credit unions are very effective for new entrepreneurs, as they are much looser and less regulated than their bigger, corporate cousins. You will probably also find that the interest rates are lower. They are a very good place to go for some good no doc bl financials, business line of credits, and other loans that that Bank of America and the like will not allow you to get away with.
The SBA is another great place where you should consider looking. The SBA provides a wealth of loan opportunities that are not available on the mainstream private marketplace, and is the preferred starting point for many different demographics.
Finally, you may also want to go for some P2P loans, depending on your situation. While it may sound a bit shady, P2P loans can be an excellent way to find things like no doc bl financials business line of credit, and other loans that you will probably not be able to locate elsewhere.
