Our revamped Resource Center provides education on personal and business financial topics, information on online security and fraud prevention, and articles from leaders at Sunflower Bank. One topic we explore is Small Business Ownership, where we provide articles, guides, lists of tips, and more to help small business owners navigate their day-to-day decisions. An example of the information available about Small Business Ownership is an article that helps business owners understand whether a loan or a line of credit best fits their financial needs. Learn about this and find other articles on our website: https://trst.in/IWAXN2
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THE LIFE CYLE OF EVERY BUSINESS IS KNOWING WHEN AND WHERE TO INVEST! GETTING THE CAPITAL WHEN YOU NEED IT IS JUST AS IMPORTANT AS BUILDING THE BRIDGE TO FINANCIAL SECURITY! https://lnkd.in/gGFW_E9G
Diana Kristinat's HiHello Card
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Commercial Finance Attorney (Loans, ABL, CRE Lending, Equipment Leasing, and Other Forms of Debt) and Business Law Attorney
Collateral Descriptions I’m not proud to say that I’ve read thousands of internal credit memos generated by my lender clients. After all, those are years I’m never going to get back. My point is that I seldom see a collateral description written correctly. Phrases like “all assets” or “a blanket interest in all assets” sound inclusive but rarely are. Do you mean all personal assets? Does that include all cash held in all accounts, or trademarks and patents, all avenues of cash flow, under all consignment and bailment arrangements, all real estate, the company Mercedes…? You get the idea. Or worse, it might say all inventory. If you take all inventory, usually you also want all accounts receivable since they are closely related. I’ve had lenders (read: I’m not talking about borrowers) arguing that accounts should not be included in a collateral description because only the word “inventory” was on the credit memo. This is regardless of whether this is in the interests of their employers, who would always prefer the more comprehensive, thoughtful approach. The other side is also true, that these descriptions sometimes include assets that the borrower does not own or control or is owned by a third party who has no interested in signing a hypothecation in favor of some lender. Today’s rant is over. I feel better now.
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THE LIFE CYLE OF EVERY BUSINESS IS KNOWING WHEN AND WHERE TO INVEST! GETTING THE CAPITAL WHEN YOU NEED IT IS JUST AS IMPORTANT AS BUILDING THE BRIDGE TO FINANCIAL SECURITY!
Diana Kristinat's HiHello Card
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Thanks for sharing this, Rick! When lenders get a lot of this information up front, the underwriting is easier and faster. Also, this pre-work allows us to have better conversations about strategies, challenges, and problem-solving rather than going through a long checklist of questions.
Need a Loan? Here's an Essential Checklist
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When you have student loans, it can be difficult to know how to effectively manage those debts. Together, we can determine how to efficiently pay down your balance while still pursuing your other financial goals.
7 strategies for managing student loan debt
ameripriseadvisors.com
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Introducing Safe Check Complete — an all-new option that allows you to order a pre-qualification using a 3-bureau soft credit check for $23 and have UWM pull your borrower’s tri-merge hard credit report at no additional cost to you or your borrower. Plus, you’re able to recoup the cost of Safe Check Complete at closing. Take advantage of the new enhancements to offer more savings to your borrowers, while protecting your business.
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Introducing Safe Check Complete — an all-new option that allows you to order a pre-qualification using a 3-bureau soft credit check for $23 and have UWM pull your borrower’s tri-merge hard credit report at no additional cost to you or your borrower. Plus, you’re able to recoup the cost of Safe Check Complete at closing. Take advantage of the new enhancements to offer more savings to your borrowers, while protecting your business.
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Introducing Safe Check Complete — an all-new option that allows you to order a pre-qualification using a 3-bureau soft credit check for $23 and have UWM pull your borrower’s tri-merge hard credit report at no additional cost to you or your borrower. Plus, you’re able to recoup the cost of Safe Check Complete at closing. Take advantage of the new enhancements to offer more savings to your borrowers, while protecting your business.
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Team Leader & Realtor at Zack Grimmer Group, Powered by Real | Licensed Mortgage Loan Originator | Senior Brokerage Enablement Coordinator at The Real Brokerage
Getting ready for a loan application? Here's your checklist to be fully prepared: 📄✔️ - Confirm your income and employment details twice; they're that important! - Gather all information on assets and debts for a clear financial picture. - Ensure your credit history is accurate and up-to-date. - Have proof of identity on hand. - Compile your rental history to showcase your reliability. With these documents, you're on the right track to securing your loan!
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