||When you have a customer who has been turned down for a loan, you make no money. The remaining items on the list fall within the expertise of our CPA training. We can help by addressing the reason the loan was turned down:
- Poor credit history – we can provide specific consulting as to which steps are necessary to correct the problem. Some problems are errors of fact. Others are a matter of developing patterns of paying debt on time. Obviously, repairing the latter problem is an issue that requires time to demonstrate the problem has been fixed.
- Improperly prepared financial statements
- Improperly prepared statement of collateral
- Borrower’s inexperience in business world
- Lack of, or poorly prepared business plan
- Inadequately described use of funds
- No forecast of cash flow
- Unavailable profit and loss projection
- Absence of audit verification where requested
Borrower’s poor personal appearance – even personal appearance is a subject that is stressed in our role as CPAs.
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