What Sets Stated Income Commercial Real Estate Loans Apart
Receiving financing is a normal part of operating a small business in today’s modern business world. Getting a little help to make your small business as successful as possible is perfectly normal. However, traditional loans are not for everyone. They can be difficult to qualify for and paying them back can be a challenge. This is where stated income commercial real estate loans come in. Just like any other loan, they can be used to:
- Purchasing initial commercial real estate
- Remodel or expand a business
- Consolidate debt
- Build working capital
- Invest in marketing or hire new staff
- Acquire new equipment
Capital Financing Solutions is committed to helping you get the loan best suited to your specific situation, whether you own an established business or are just getting started for the first time. Learn more about how stated income real estate loans work.
What Makes Stated Income Real Estate Loans Different
Traditional loans use the recipient’s credit history and credit score to determine whether they are qualified. This is great for those who have strong credit, but it can make it very difficult for anyone who does not. In many cases, those who have poor credit are the ones who need financing the most. Stated income loans are not based on your credit history. Instead, the primary aspect this kind of financing is based on is how lucrative the business is or potentially could be. No matter how your credit looks, if your business is making money, you can most likely qualify for a loan. The other major requirement is that the property can cover the mortgage, taxes, and insurance of the loan. Additionally, this kind of loan typically has short processing times, simpler applications, and less paperwork. At Capital Financing Solutions, we believe in what your business can be with a little bit of help, instead of just looking at what it is. Contact us today to learn more about how you can qualify for a stated income loan.