Results 1 to 10 of 10

Thread: Needing non-federal financing

  1. #1

    Default Needing non-federal financing

    Needing some advice regarding financing.

    I am a small sole proprietorship and as such I keep my business profits in terms of federal reporting very low.

    I need to purchase a new business property to operate out of, but since all the banks require federal income tax for loan applications, I am having a lot of difficulty getting a loan to purchase a new property. Even though I have over 30% to put down and the current business location expense will be the same as the new business location expense. Actually less, since after the down payment, my payments will be less than they are now.

    Does anybody know of a lending option that doesn't punish you for avoiding income taxes?
    CPT Jack. R. T.
    US Army Resigned - Iraq Vet.
    Level III MACP instructor, USYKA/WYKKO sensei
    Professional Hunter/Trapper/Country living survivalist.



  2. Remove this section of ads by registering.
  3. #2

    Default

    Quote Originally Posted by Icymudpuppy View Post
    Needing some advice regarding financing.

    I am a small sole proprietorship and as such I keep my business profits in terms of federal reporting very low.

    I need to purchase a new business property to operate out of, but since all the banks require federal income tax for loan applications, I am having a lot of difficulty getting a loan to purchase a new property. Even though I have over 30% to put down and the current business location expense will be the same as the new business location expense. Actually less, since after the down payment, my payments will be less than they are now.

    Does anybody know of a lending option that doesn't punish you for avoiding income taxes?
    Student loan.
    The essential English leadership secret does not depend on particular intelligence. Rather, it depends on a remarkably stupid thick-headedness. The English follow the principle that when one lies, one should lie big, and stick to it. They keep up their lies, even at the risk of looking ridiculous.

  4. #3

    Default

    A self-employed friend of mine used https://www.sofi.com recently for a personal loan and is happy with the results. He had a low reported income, but great credit. I don't know if it meets your specs, but you can do it all online so shouldn't be all that big of a deal to find out.

  5. #4

    Default

    Last time I checked, Sofi, and most of those other lenders like them give short term capital loans based on Monthly gross revenue usually a maximum of 50% of gross revenue over a 3 month period and the loan is to be paid off within 3 years at most. For me, that would be a $36,000 loan, which isn't enough to buy the property. I have 65,000 to put down, on a 235,000 property. 170k is the amount I need financed for a 15 year term.
    CPT Jack. R. T.
    US Army Resigned - Iraq Vet.
    Level III MACP instructor, USYKA/WYKKO sensei
    Professional Hunter/Trapper/Country living survivalist.

  6. #5

    Default

    Quote Originally Posted by timosman View Post
    Student loan.
    I can't use that for a real estate purchase, when I am not attending school can I?
    CPT Jack. R. T.
    US Army Resigned - Iraq Vet.
    Level III MACP instructor, USYKA/WYKKO sensei
    Professional Hunter/Trapper/Country living survivalist.

  7. #6

    Default

    Quote Originally Posted by Icymudpuppy View Post
    Last time I checked, Sofi, and most of those other lenders like them give short term capital loans based on Monthly gross revenue usually a maximum of 50% of gross revenue over a 3 month period and the loan is to be paid off within 3 years at most. For me, that would be a $36,000 loan, which isn't enough to buy the property. I have 65,000 to put down, on a 235,000 property. 170k is the amount I need financed for a 15 year term.
    I know the loan he got was for 7yrs, but yeah it sounds like they might not be right.

  8. #7

    Default

    You said business property. Is there possibly a residence on it? If so then maybe a VA loan with that kind of down payment. You say you have a current business property. Any equity?
    Last edited by phill4paul; 11-02-2017 at 02:07 PM.
    Theye have refused their Assent to Laws, the most wholesome and necessary for the public good.

    Theye have erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance.

    Theye kept among us, in times of peace, Standing Armies

    Theye have combined with others to subject us to a jurisdiction foreign to our constitution,

    For protecting them, by a mock Trial from punishment for any Murders which they should commit on the Inhabitants of these States:

    For cutting off our Trade with parts of the world:

    For imposing Taxes on us without our Consent:

    For depriving us in many cases, of the benefit of Trial by Jury:

    Theye plundered and destroyed the lives of our people.

    Theye are at this time transporting Armies of Mercenaries to compleat the works of death, desolation, and tyranny, already begun with circumstances of Cruelty & Perfidy scarcely paralleled in the most barbarous ages, and totally unworthy of a civilized nation.

  9. #8

    Default

    Quote Originally Posted by phill4paul View Post
    You said business property. Is there possibly a residence on it? If so then maybe a VA loan with that kind of down payment. You say you have a current business property. Any equity?
    VA loan requires showing that taxable income. I need a loan that isn't federally regulated.
    CPT Jack. R. T.
    US Army Resigned - Iraq Vet.
    Level III MACP instructor, USYKA/WYKKO sensei
    Professional Hunter/Trapper/Country living survivalist.

  10. #9

    Default

    Quote Originally Posted by Icymudpuppy View Post
    Needing some advice regarding financing.

    I am a small sole proprietorship and as such I keep my business profits in terms of federal reporting very low.

    I need to purchase a new business property to operate out of, but since all the banks require federal income tax for loan applications, I am having a lot of difficulty getting a loan to purchase a new property. Even though I have over 30% to put down and the current business location expense will be the same as the new business location expense. Actually less, since after the down payment, my payments will be less than they are now.

    Does anybody know of a lending option that doesn't punish you for avoiding income taxes?
    You might try a local credit union and point out your payment will be no more than the rent you have been paying .

  11. #10

    Default

    Family/friends, like minded people interested in your goals, and a solid contract for any/all parties. No dice?

    A seller interested in the same things that you value.

    Not sure what the property you are trying for entails, but sellers with un-permitted structures looking to sell can open up alternative loan opportunities.
    Fear of man will prove to be a snare, but whoever trusts in the LORD is kept safe. Proverbs 29:25
    "I think the propaganda machine is the biggest problem that we face today in trying to get the truth out to people." Ron Paul

    Please watch, like, & share, Ron Paul Liberty Report







Similar Threads

  1. Plan B since we might be needing it soon
    By progressiveforpaul in forum U.S. Political News
    Replies: 70
    Last Post: 08-07-2011, 06:18 AM
  2. Nevada needing a Dr. No
    By Sean in forum U.S. Political News
    Replies: 12
    Last Post: 06-23-2009, 01:15 PM
  3. Alaskans needing some help for delegates
    By Misesian in forum Grassroots Central
    Replies: 8
    Last Post: 02-08-2008, 11:52 AM
  4. Something else needing done in 2008
    By noxagol in forum Success Strategies
    Replies: 14
    Last Post: 08-24-2007, 04:41 AM
  5. Something else needing done in 2008
    By noxagol in forum Grassroots Central
    Replies: 10
    Last Post: 08-22-2007, 08:01 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •