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EARLIER THIS YEAR VCO was awarded
a grant from the
Valley Center Opportunity Zone along with
several other small local businesses, and
recently, yours truly and VCO were featured in
an article
written about the Valley Center Opportunity Zone
in the Las Vegas Business Press.
Below
is a portion of that article, to read the entire story
click
HERE.
Thanks again Hank for your
continued support of VCO!
Borrower
beware
Business owners less likely to get loans
when careless mistakes appear on applications,
business plans
BY VALERIE MILLER
Entrepreneurs may have the greatest ideas in the
world, but they'll never catch the attention of
bankers this way.
With the subprime mortgage lending
crisis making it harder for
entrepreneurs to obtain capital, sloppy
mistakes are no longer being tolerated
-- and they are costing the borrower
loans, he said. The subprime collapse
means individuals can't just tap home
equity anymore to buy a business. Now,
they must actually see if a banker says
it's a good idea first, experts point
out, leading to an increase in the
number of people seeking business loans
these days.
But as for sloppiness, is it really the
perfect storm of bad
paperwork-meets-tougher-loan standards?
That depends on who you ask. Most
lenders and business experts seem to
agree that loan applicants display a
long list of sins, ranging from poor
penmanship to "creative" bookkeeping. |
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JOHN GURZINSKI | REVIEW-JOURNAL
Henry Pinto, executive director
of the Valley Center Opportunity
Zone, talks with client Marleen
Marino, publisher of Web site
www.vegascommunityonline.com.
Pinto says dependence on a poor
accountant can lead business
owners astray. |
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The above article is the opinion of the author and not necessarily the opinion of Vegas Community Online, its editors/publishers, and/or other Vegas Community Online columnists. VCO respects the right of each author to express their opinion. If you have an opposing viewpoint or would like to send feedback on any article, please send email to feedback@vegascommunityonline.com; state the title of the article and your comments. VCO reserves the right to add any submissions to its feedback page.
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