Why Lenders Treat Independent Contractors Unfairly
Independent contractors are treated unfairly when they apply for bank loans because they don’t have the same type of documentation as people who get their income from a standard employer. As an independent contractor, you may be unable to provide lenders at the bank with any type of employment agreement. With less certain proof that you will have a stable income for the foreseeable future, independent contractors are seen as a greater risk for lenders. You must demonstrate that your wealth and income are stable enough for the risk to be worth it, and that requires you to arrange a massive file of paperwork that is much more difficult to collect than the documents needed by someone with a traditional employer. This makes it difficult for some independent contractors to find tax lien relief in Chicagoland.
No Tax Returns? Good Luck Getting a Traditional Loan
Unless you are able to produce about two years’ worth of tax returns, you will have a difficult time getting approved for a loan as an independent contractor. This is a major problem for many independent contractors, as they have good, stable jobs that can provide enough income to pay off the loan, they just can’t get one because they can’t produce the tax returns needed to get approved! But SKYDAN Equity Partners is here to tell independent contractors: When Banks Say No… We Say Yes!
SKYDAN Equity Partners’ Unique Alternative to Lending
We have a unique alternative to traditional bank lending that could be a huge help for independent contractors who need capital now. If you have equity in your home, you may be eligible for our unique buy and leaseback program, which is structured as follows:
- SKYDAN Equity Partners buys your single-family home with equity.
- You lease the home back for up two years maximum with no monthly payment.
- At the end of the lease you can buy the house back or sell it and receive the remaining equity.
Our unique program offers homeowners a quick way to unlock the cash they have stored in their home equity. Independent contractors who have had trouble getting approved for a bank loan can rest assured that SKYDAN Equity Partners does not care about their tax returns, and we don’t care about your credit score either! All you need is equity in your home to participate in our program. To learn more about SKYDAN Equity Partners’ buy and leaseback program, or how to sell and rent back your property in Chicagoland, call us today!