Stated Commercial Loans
Many times it can be challenging to get a loan because your tax returns may not demonstrate qualifying income. Stated commercial loans can provide you access to credit, as these types of loans do not depend on your tax returns. We can assist you in meeting your commercial financial needs from a wide range of lenders.
Stated commercial loans are assessed based on the following factors:
- Bank statements
- Property rental roll
- Profit & Loss statement
Key Points about State Commercial Loans
You should know the following key points about these loans:
- Loan amount ranges from $250,000 to $5 million
- No need for tax returns
- Interest rates ranging from 6.5% to 9%
- Amortization period of up to 30 years
- Loans can be used for purchase, refinance, or cash-out
We offer stated commercial loans through our vast network of lenders. If you are seeking finance for buying commercial real estate, there is no need to risk potential turndowns because of lower credit scores. We can help you secure stated commercial loans for your transactions.
Why Choose Stated Commercial Loans?
Stated commercial loans are not based on the assessment of credit, but your business’ profit. If your business is generating profits every month, your application can get approved. The lenders will evaluate your business to determine if you can pay the mortgage, insurance, and taxes against the loan. The loan amount is typically approved within a short period. These loans can be used towards the following expense:
- Buying new equipment
- Hiring new staff
- Consolidation of debt
- Buying new real estate
- Remodeling real estate
- Growing marketing budget
Stated commercial loans provide you the flexibility to use the funds for almost anything related to your business. The funds can be used wisely to make smart investment decisions and boost your profits permanently.
Benefits of Stated Commercial Loans
Stated commercial loans are popular for the following benefits they offer:
- Up to 80% LTV depending on the type of loan usage
- Allows cash-out transactions
- Works with low liquidity
- Applicants with as low as 600 credit score can also apply
Financing is an important tool for businesses to fuel growth. However, not all small business owners may be able to qualify for credit. Poor credit is one of the biggest hurdles and can make it a challenge to qualify for traditional types of loans.
Interestingly, businesses with poor credit are the ones who need financing the most. This is where the stated commercial loan can come to your rescue. These loan programs are specifically designed for those with poor credit. The eligibility requirements are different from those for conventional loans, making it more readily accessible. You can apply for it even if your applications for other types of credits have been denied recently.
We can help you in making your application process simple and quick. Feel free to contact us today to apply for stated commercial loans. We have years of experience with reputed lenders and can help you get the best deal depending on your business profile and transactions. Give us a call today at (540) 825-9800 or write to us at email@example.com.