I am seeing more apartment owners declined by their local bank when trying to refinance, not because the property doesn’t cash flow, but because their tax returns don’t show enough income to debt service the loan.
Many investors use depreciation and write-offs properly. On paper, income looks low. To a traditional bank that underwrites to the net income on their tax returns, the deal doesn’t fit local bank’s credit box.
That doesn’t mean the refinance isn’t possible.
I can help you, if your apartment property cash flows but your bank says no because of your tax returns, there is a solution. It just needs to be matched to the right lender. If your bank declined your refinance because your tax returns don’t show enough income, call me today at 512-358-1511 and let’s see if the property itself can qualify.
Karen Schimpf
(512) 358-1511
karen@applycommercialloans.com
Karen Schimpf
Commercial Capital Ltd.
O: 512-358-1511
E: karen@ApplyCommercialLoans.com
w: www.linkedin.com/in/karenschimpf/
blog: http://bizloansconnections.com/
website: http://applycommercialloans.com
PS. I recently had a buyer under contract to acquire a small business who needed to close quickly, but the traditional SBA process was moving too slowly and the seller was losing patience. We pivoted to an SBA alternative program that requires 10–15% down, about $50K in reserves, and a 700+ credit score. Because the loan was under $375K, it was structured unsecured with significantly less documentation than a standard SBA file. We closed in weeks, not months, and kept the deal from falling apart. This is a strong solution for buyers who need faster execution or fall just outside traditional SBA guidelines, with loan amounts up to $500K available when real estate collateral is pledged.