• Susan Xia

4 Most Common Factors Affecting Our Community In Financing

Updated: Jun 19


Credit Score


Credit score is the first information that banks to consider for loan approval. Most lenders have a minimum credit score requirement. The higher the credit score, the higher likelihood for the loan approved. Sometime borrowers carry many heads in their day to day lives, and often miss credit card bills, resulting in late payment and forgotten payment, which has become a major cause of low credit scores. Essencap can help these credit issue borrower.




Income Tax


When the bank approves the commercial loan, the bank tests the borrowers' affordability on repayment. It must ensure that the borrower can afford monthly repayment. If the borrower has a stable source of income, the bank risk is reduced. Sometime borrowers access loan with global cash flow lenders, and received rejections due to global cash flow shortage. Some lender offers commercial loan based on the asset level cash flow. Essencap can assist.


Seasoned Fund


Typically banks require a 90-day cash deposit period proof from bank statements. Many of our clients are business owners, they constantly use the cash for their business working capital, so the cash level is not a constant factor for our borrowers. Essencap can help borrower in obtaining Non Seasoned Fund loans.


Rent Proof


Bank statement showing rent deposit is a proof of rental income earned. This is a good way to record income (for landlords) and expenditure (for tenants). Record of bank deposits can help resolve any disputes regarding late or partial payments. We've seen many landlords deposit rent income into multiple accounts and sometimes cash get to spent instead of deposit rents in the bank. Essencap assist borrower on Non Rent Proof loans.


Essencap, as a commercial loan specialized mortgage broker, has sufficient lending source to solve Chinese community's financing special needs. We can lend low credit, low income, no seasoned fund, and non rent proof.


For more information, www.essencap.com,susan@essencap.com or 917-355-1771


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