You have had your own wholesale dropshipping business for quite a while. You are planning to sell your e-commerce shop, but you still need income evidence in order for possible loan acceptance from your local city banks. What do you do at this point?
Do you quit because the number 1 bank in your country expressed an opinion that your past 3 years in business have not been steady for the balloon loan that you truly desire? Have you thought that all the hundreds if not thousands of hours spent by you and your partners in your e-commerce shop have been a total waste of time? Think again if you have had some success and are planning for a new home.
If at the time you own a wholesale dropshipping business without steady sales or without the same income every month. My advice, the bank officer to wake up! An e-commerce shop is an online wholesale business, it is not a job. Even if our next planet Mars accept a job as the same definition of business, depending on the industry even a job does not have steady sales or the same income every month. It all depends how the economy moves.
If that is the situation that you had with the first or second bank you met for that lovely penthouse that you desire or for that Honda S2000, 2008 Corvette or even better, a 911 Porsche that you are considering bumping in to that already hefty monthly fee that you have had for quite a while, you should then consider other banking alternatives. Most of us pre-qualify our accountants, you should also do it with the bank that may land some thousands of dollars in interest from your wallet!
As you may know different banks have different policies. Different banks have totally different alternatives to getting into a long lasting relationship with you. All US country banks are regulated, however, many take different decisions based on your credit history, security of investment, viability to sell and loss percentages in case unforeseen situations arrive even if you are a saint in the streets and best of all, they take into consideration their internal financial situation as a bank in order for them take your business relationship.
In Puerto Rico as example, there are plenty of banks that may accept your financial situation for that $200,000, $500,000 or $1,000,000 home. They advertise those loan offers every day on local newspapers. Barking and even biting themselves from next page to next page in full page ads! Fortunately, it is lovely for us.
It should sound like auction offers and it will be that way. Some banks in your country are number one because management, projects taken and how great they had managed with their safety loan policies for years. Other banks have or have had a bad management and the worst presidents of all time in the banking industry.
If that is the situation at such times in your city or country, take advantage of it! See if your bank accepts your income and they do not ask you for a hefty monthly insurance to be paid per month, just so they can be 100% safe for the first years of the loan? If others would accept your loan without hefty bank insurance before you signing that loan, make sure to thank your wholesale dropshipping business employees or yourself with a bonanza gift, as you may be on your way to securing that house for your healthy living!