The Benefits of Stated Income Commercial Real Estate Loans
If you need to purchase new property, finance a renovation, build working capital or consolidate debt to grow your business but have a poor credit history, a stated income commercial real estate loan could be the solution you are looking for. Neal Business Funding offers this type of financing with excellent terms for businesses of all sizes.
What Are the Terms for a Stated Income Loan?
At Neal Business Funding, our goal is to help your company thrive. One way we accomplish this goal is by providing you with the opportunity to obtain property to serve as working capital. Our terms include:
- Self-employment and W-2 documentation
- Fixed rates
- Up to 65 percent LTV for retail, office, and storage properties
- Up to 70 percent LTV for investment properties
- Up to 75 percent LTV for multi-purpose properties
- 25-year terms
- Loan amounts up to $500,000
- Cash to be used in any way you deem fit to enrich your company
- Credit scores of 600 qualify
How Does a Stated Income Loan Differ From a Traditional One?
When a business has poor credit history, it often has trouble qualifying for a traditional loan because this type of financing solely uses credit history to determine loan eligibility. Traditional loans also often come with a significant amount of paperwork.
In contrast, stated income commercial real estate loans consider the value of the property in question instead of the borrower’s credit history. If the value of the property exceeds the cost of its taxes, mortgage, and insurance, it qualifies for this type of financing regardless of the property type.
If your business does not qualify for a traditional loan, contact Neal Business Funding to discuss taking out a stated income commercial real-estate loan. Our excellent terms allow you to obtain the working capital you need to enrich your business regardless of your company’s credit history. We can get you started quickly so you can get the funding you need, so contact us today.