I have 2 deals that are past LOI and working on the DD. I have the bank doing underwriting/DD. One week away from closing, they said that I would need to pay off my current business loans in my existing business before they could fund it, so the business could start clean - even though the monthly payments are only $###-###-#### Is this standard? Anyone have funding sources where this is not required?
More on Searchfunder
Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
148 views
9 comments
Sign in to see all replies.
Create an account.