Why Should You Consider Bad Credit Offshore Lenders

You may wonder if there are any international or bad credit offshore lenders that might be willing to lend you money eve with your bad credit history. Well, there are and in fact there are a lot of them. Many borrowers think that it isn’t possible but in fact it is a growing industry and is often considered the “last resort”.

If you are a first time applicant bad credit offshore lenders you might be led to believe that having a good broker, the person who will help you find funding, is one of the most important things. But the reality is that these bookers simply send out copies of your application and most of them don’t necessarily follow them up.

This is why in most cases only 10% of the applications forwarded by these brokers are actually taken into consideration by potential bad credit offshore lenders. Of that 10% only half would probably be successful closed deals. So basically, your chance of getting funded by an offshore lender could be one in a hundred. This is proven by major lending managers as well as banking institutions. It’s not really a secret within this industry.

Many brokers would tell a client that having more than sufficient assets such as tangible properties would help get them an approval on the application. But that, yet again, is false. Why? Because these assets become useless if there aren’t any proper plans for how the money will be utilized, a show of the person’s ability to pay off the loan and a lack of skill by the borrower. Assets don’t really count much with perspective bad credit offshore lenders.

Another thing to consider is the fact that most of these bad credit offshore lenders pay more consideration to applications that came from brokers with whom they have had successful transactions with. Most of these brokers have great track records when filing applications for borrowers and forwarding them to offshore bad credit lenders.

They filter out the applications and choose the serious and committed borrowers who have a viable plan or project to utilize the money on. Brokers who consider the merits of an application are the best ones to go to.

For businesses or people who want to obtain funding from bad credit offshore lenders should also recognize that this is not an easy task especially with a bad credit history. Backgrounds are thoroughly checked and bad credit histories aren’t really a positive thing to have on your record. But, don’t give up just yet. Offshore lenders also consider the viability of a project or a business endeavor for which you will utilize the money.

If you give them enough information as well as proof that the business can grow and thus would help you pay off your loan, they just might consider your application. Which is why it pays to know your broker, make sure to discuss with them the numerous merits of your business and make sure they input it on your application.

Comments

  1. im enterprenua in kenya doing fish business among others and would like to know how i can get a loan from your company and how long will it take to process the loan and also give the muximum repayment period .milcah

  2. Dr.Adedigba Adekunle ( Joshua ) says:

    I am an entrepreneur with a verse ideal that could establish a busniess empire. I need working capital loan but I dont have collateral. I have in my blue file twelve susidaries which answer immedate needs of over ten million Nigerian’s.

    Its medical education based business and rear concept. Can you support such as busniess and provide working capital loan for it? I shall be grateful to send a detailed proposal of this business if you support start busniess in my region, Africa, Nigeria.

  3. WE have been in brokering business since 1973. If you really want to loose your fees go through an USA bank. We have lost considerable money over the years, they are the worse of the lenders for that. We work with lenders direct, never with another broker. Banks in the UK are much better to work with if you can get them to accept your work. We work one project at a time and never get involved with “dead issues” be sure you work with things that have not been shopped and direct with the client or borrower.

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