Background Check for Business Loans: Video

Background Check for a Business Loan

Next Video

Background Checks for a Business Loan are completed just before closing.

Don’t go to the WRONG LENDER.   Felonies and Misdemeanors may cause an offer or approval to be declined before closing.

Investors look at the type and details of the conviction.

Violent and financial crimes involving moral turpitude are reasons lenders and investors will decline an offer.

Apply Below: Funding Options with a Felony and Misdemeanor criminal record

APPLY NOW

Call 919-771-4177 for more information.

What are the Factors looked at if the Owner of a Business has a Criminal Record?

1. Type of Conviction.
2. What is the story from the Customer about the incident?
3. Does the customer try to deny their record?  For example,
   do they say the information is wrong, or do they accept
   responsibility?
4. Felony or Misdemeanor.
5. Was there Prison time?
6. Is there more than 1 conviction
7. How long ago has it been since that time?
8. Is Restitution required?   If so, it may impact how much a
   borrower may qualify for.
9. What has the customer done since that time?   Have they
   re-established themselves?

For more information on preparing your loan request, visit the SBA