Non Conforming Loans

Type/purpose

Yes No

How Much

Min ($)

Max ($)

Verified income

Training programs (as P/L)

Yes

5,000

50,000

Student Loans (as P/L)

Yes

5,000

50,000

Phone Systems

Yes

5,000

10,000

Personal Loans (unsecured)

Yes

5,000

50,000

Overdraft – Business

Yes

Business Loan (unsecured)

Yes

150,000^

Bank Guarantee

Yes

50,000

International Trade

Yes

5,000

^

Credit Cards

No#

Kitchens / Bathrooms (as P/L)

Yes

5,000

Car Loans

Yes

5,000

Equipment lease

Yes

5,000

^

Truck (Yellow/Tonka) Leases

Yes

10,000

^

Business Purchases (unsecured)
Business Purchases (secured)

Yes
Yes

5,000
5,000

50,000
^

Business partner buyout

Yes

5,000

^

Franchise Purchases

Yes

10,000

^

Cash Flow Funding

Yes

5,000

*

Home Deposits

Yes

5,000

Computers (as P/L)

Yes

5,000

Lo Doc

Business – O/D (unsecured)

Yes

15,000

Business Loan (unsecured)

Yes

15,000

No Doc

Equipment Lease

Yes

2,000

^

Question:

When should I consider a non conforming loan?

Answer:

Non conforming loans are useful for times in your life which may be challenging, difficult or don't fit within the standard bank lending parameters. Below are some reasons to consider non conforming loans:

1. Difficult security - a borrower seeking non-traditional security such as company title, studio apartments, serviced apartments, warehouse apartments, vacant land or resort style accommodation.
2. No financial statements - a business or investment borrower unable to submit formal income confirmation.
3. Irregular income - business investment or home loan borrower with irregular or partially unsubstantiated income details.
4. Self employed people with a short business history.
5. Credit problems - a borrower with poor credit history ranging from slow repayments on any current loans to a credit default.