Loans for back taxes
Loans for back taxes are common in this challenging economy, markets and business changes unfortunately many businesses miss the warning signs and over or under react to the changing industry dynamics. Their actions or inaction’s can lead to dire consequences for a small to mid size business including cash flow issues which inevitably have a trickle down effect on all areas of the company including loans for back taxes.
These cash flow issues typically lead to issues with various taxing authorities including not fully paying income taxes, property taxes, etc. To help these business owners right-size their current situation, many options are available including Accounts receivable factoring, inventory financing, equipment financing, real estate financing and loans for back taxes
Real Estate Loans for back taxes
Real estate loans for back taxes can be an excellent alternative to higher priced factoring solutions (inventory, equipment, accounts receivable, etc?). In many cases the borrowers have an excellent piece of real estate collateral that can possibly be financed to provide ample working capital for their business. Loans for back taxes increase working capital that is one of the key variables in the turnaround of any company.
Many times these clients will not qualify for traditional bank financing. Traditional lenders focus heavily on the business financial’s (both present and historical) to evaluate the soundness of the loan. Luckily, lenders exist that focus on the borrowers collateral as opposed to their current financial’s. A perfect fit for situations like this is a private lender with a no-doc program.
Loans for back taxes are a unique niche that is very different than other sub-prime products. Typically sub-prime lenders underwrite primarily on credit, income, or cash flow of the property. The private lender no-doc loan solely underwrites the property and not the borrower or the financial situation of the company.
For example, a no-doc lender recently made a loan to a business that had lost money for the last three years. The lender was able to analyze the property, understand the company?s financial situation and the steps being taken to improve the cash flow. As long as the property has enough equity in it and a plan for success, the no-doc lender is typically able to make the loan.
A no-doc loan is typically faster, and enables the company to pull out more capital than factoring on receivables and materials. Start to finish a no-doc programs takes 2-3 weeks and can provide the borrower up to 60% of the equity in their property. The loans can typically be structured to fit the particular needs of the situation.
We can help the following borrowers:
- Unpaid property taxes
- Payroll tax issue
- Unfilled tax returns
- Business cash flow issues
- In need of working capital
- Tax liens
- Credit Challenges
- Mortgage lates
- Various other situations where time is of the essence
To apply for a loans for back taxes click here.