Updated about 2 years ago on . Most recent reply
Lending Limit at local bank
We have run into an issue and would like some advise. We are currently using a smaller local bank, and they have a loan limit. We are getting close to and we are looking for new lender, or a way to put our current lender as ease, and increase our loan limits. does anyone have experience with this situation?
Most Popular Reply
The legal lending limit is the maximum a bank can lend to a specific borrower. This will vary depending on the bank. This is why it's important to grow your banking relationships and spread your loans across multiple lenders. As you become more familiar with specific lenders you will also learn specific acquisitions or refinances may fit better with certain banks and will dictate who you send your loan requests. Its also best to build relationships when you don't necessarily need a loan. Learn their lending parameters and work off the list when financing opportunities come up.