What Can a Stated Income Loan Do for Your Business?
Financing is a crucial component for the growth of any business. A stated income commercial real estate loan is a type of financing that can be used in any way to improve your company, from consolidating debt to purchasing inventory. Capital Finance Partners offers this type of financing to businesses of all types and sizes.
What Are the Terms for a Stated Income Loan?
Stated income loans provide you with the funds you need to grow your business in many ways. You are free to use the money you receive in any way that will enrich your company, and any type of business can qualify for this avenue of financing. Additionally, Capital Finance Partners offers the following advantages to borrowers with a credit score of at least 600.
- Fixed rates
- Up to 65% LTV for commercial properties, including warehouses and storage facilities
- Up to 70% LTV for investment and owner-occupied properties
- Up to 75% LTV for mixed-use and multi-family properties
- Terms of up to 25 years
- Loan amounts of up to $500,000
- Self-employment and W-2 documentation
What Makes a Stated Income Loan Different From Other Types of Financing?
Stated income loans are usually approved more quickly than other types of financing. They require less documentation and paperwork than traditional loans so the money is available to you more quickly. It is also easier to qualify for this type of financing. While many types of traditional loans require you to have a good credit history to qualify, you will automatically be approved for a stated income loan if your company owns property with a value that is greater than the combined cost of its taxes, mortgage and insurance.
Many businesses can benefit from the flexible financing offered by stated income loans. If you think a stated income commercial real estate loan is the right financial solution for your company, contact Capital Finance Partners today to learn more.