Why You Can Be Approved for a Stated Income Loan
As a small business owner, you are probably already aware that financing can be hugely beneficial, especially if you are having trouble getting on your feet. Unfortunately, not every business owner can qualify for a loan. If you have poor credit, you may have been denied in the past. Luckily, there is a special type of loan that is designed to be easy to qualify for, even if you do have a low credit score. This type of loan is the stated income commercial real estate loan. It is different from other loans because credit is not used to determine whether you qualify. Instead, the income of your business is the primary piece of information we need. If your business is earning a profit, you can likely be approved for a stated income loan. Other requirements are that your business can cover the taxes, mortgage, and insurance of the loan. If you think your business could benefit from a stated income real estate loan, turn to Quick Capital Commercial Lending. We will do everything we can to help you qualify.
How You Can Use Your Stated Income Loan
Just because it is easier to qualify for a stated income loan does not mean the benefits are any less significant. You can use your new working capital to make extensive improvements to your business or get back on solid ground. The possibilities include:
- Consolidating your debt
- Purchasing new or initial real estate
- Investing in your marketing
- Hiring more staff or train existing staff
- Acquiring or repair equipment
At Quick Capital Commercial Lending, we always work with you to figure out the best financing option possible. The best type of loan is one that is designed for your unique situation and circumstances. Give us a call to learn more about how you can apply for a stated income real estate loan.