Please Note:Please be advised that American Cash Solutions Inc post its payment policy on the main page of our website. Our most current loan programs are found on the website as well. The payment policy on our website is superceded by the written broker contract that you sign and may be customized to your particular scenario in the interest of getting the deal done.
How To Speed Up The Loan Process
If you email us about your loan scenario and then we contact a bank regarding your matter and you take two weeks or more to get your paperwork together the bank starts to wonder"Why are they taking so long to submit their loan?" In the interest of putting your best foot forward a starter list is below:
1)Read The intro page of our website at http://www.mybuildingfunds.com on the type of documents you should get ready. At a minimum you should have your :
1)Last two year corporate tax returns(possibly 3 years) for purchase and refinance(3 years may be required in some cases) and personal tax returns if not a corporation and YTD Profit and Loss "aka" P&L for 2008.
2)Clear photocopy of driver's license
3)A check of $21.00 made payable to American Cash Solutions Inc for credit report per borrower
4)Rent Roll
5)Photocopy of the Deed to your building
6)Typed summary of why you want the loan, how it will help you-We usually help you with this
7)Be prepared to fill out an application over the phone or by mail or on our website.
8)We will email you a list of docs usually based on a lender that wants to see your deal. Once we recieve the list which is usually similiar to the list you just read we will pull your credit report if necessary. At that point we will submit to bank for Letter of Interest/Written Rate Quote. We don't throw rates out over the phone without knowing the whole picture..that's like a car mechanic saying what the problem is over the phone without actually looking at the car and then it turns out to be something different..this happens all the time!
9)copies of all mortgage statements, front and back(back may have payoff and other important phone numbers that we need to close your loan)
We accept faxed documents....but first the list of docs must be mailed to us and the photocopies must be clear photocopies. Remember, the underwriter/loan committee must see clear documents. Bad unclear photocopies doesn't show them you are serious.
If you have a green card some of our lenders accept green cards...please include a clear photocopy of the front and back of the green card.
Relative to your loan additional documents may be required.
If you know you will be contacting me try to have these documents ready ASAP...in other words lets talk and then mail these documents to us right away as opposed to letting two weeks pass by from our initial conversation your deal will be processed much much faster. So while we are talking over the phone dig out these documents that you know are somewhere.
FAQ: FREQUENTLY ASKED QUESTIONS
Question:"Why should I have to pay half of the broker fee if I don't get approved?"
Answer:if a bank declines you then we can submit your loan to another lender. However if we are unable to get your loan approved with any of the banks we work with you will not have to pay for our broker fee. For refinances only:If you proved you can not pay the broker fee at the commitment and can only pay at the closing and opted for the required special arrangement as described on our website We do not charge an application fee(WAIVED FOR THE SUMMER OF 2008),processing fee and we do not require a large payment upfront before the loan is even submitted. We never require the whole broker fee to be paid upfront.
On purchases all closing cost are paid out of pocket and the first half of the broker fee must be paid at the time of loan approval(if approved) and the second half must be paid at the closing. We are reasonable but also need to make a living like everyone else! We are not unpaid business consultants and can not work for free when we get you results.
Purchasing Your Credit Report-You can now purchase your OWN credit creport with all THREE scores at the credit Page of our website!
American Cash Solutions Inc is a New York based privately held corporation founded in 2001 and is specializing in more than just A paper commercial loans. Business owners in need of loans against accounts receivables(commercial only) and loans against meaningful hard assets(ie:equipment) have come to the right place. The goal of the Corporation is to evolve from a commercial broker to a commercial banker specializing in 30 year fixed rate commercial loans and commercial construction financing. We will continue to make available the other types of creative financing. With the recent loss of 80,000 jobs and the looming challenge of a recession the company feels more determined to help arrange financing for America's small businesses and over the next five years create more jobs.
Now a short message from the Founder of American Cash Solutions Inc............
"Customer Service is important to us...this means keeping our customers updated through out the process, being upfront about the bank's position on your loan application, looking for ways to make the process easier and faster relative to your work schedule, if on Long Island coming to your workplace for taking the application if preferred by you, quickly submitting papers to the bank, getting an answer to your questions and calling you with answers, attending your closing if on Long Island and for all out of state closings we reserve the time you are at closing for you in our office so if you call me with a question during the closing I will answer the phone immediately.
Our customer service also means a high level of closings...in other words it is unacceptable for a customer to walk away from a closing due to bad lending tactics..we don;t believe in bad surprises for the customer...last minute changes should be rare and truly handed down by the bank and for a good reason. Our business ethics and model are designed to minimize the customer walking away from the closing table refusing to close. I never understood why some other brokers lose half their customers at the closing...just be upfront about the terms of the loan and give the customer the chance to make a fair decision.If a customer walks from the table this is a waste of everybody's time and money. As one owner of a title company said to me they love my closings because they are just that closings!
We never give up on our customers.....if it means you need credit repair, debt settlement, financial statements prepared or a legal maneuver, we have a network of licensed C.P.A.s, tax attornies, Commercial lawyers, debt counselors, and Financial Advisors ready to solve your problem that might be stopping you from gettng your loan. Of course you must listen to our advice
I base my business on referrals....if you are happy with me then I ask for your referrals. I know the happiest customer is a customer that gets a loan that will really help them not hurt them.
Lastly, I formed American Cash Solutions Inc one month after 9/11. The name is patriotic and as someone who was granted citizenship in 1977 I have a desire to help small businesses. Small businesses make up 2/3 of our economy. It is an honor and privilege to help America's Small Businesses." -From The Owner, Charles G. Hennebeul
Read Below for The Kinds of Commercial Loans We Broker and don't forget you can apply for a commercial loan at our website:http://www.mybuildingfunds.com...I will be adding each month loan programs..the list of programs does not represent all the programs available.....I only have so much time to add to this profile so if you visit once amonth you should see more and more info below as well as more short blogs!
Please Note: We do not place loans in the following States:California, Arizona, Wisconsin, North and South Dakota, Florida. Should you hit a brick wall(of a building I suppose) and want to be referred to a broker in one of those states, contact my office.
