How Can a Stated Income Loan Benefit Your Business?
A stated income commercial real estate loan serves as an alternative to traditional financing options and gives you the freedom to grow your company in any way you see fit. The funding you receive from a stated income loan from Emerald Valley Financial Services allows you to consolidate debt, purchase inventory or refinance as needed.
What Are the Benefits of Stated Income Loans?
The money you receive from a stated income loan can be used in any way to enrich your business. A qualifying credit score of 600 or greater will also provide you with the following advantages.
- Loan amounts of up to $500,000
- Fixed rates
- 25-year terms
- Documentation for W-2s and self-employment
- Up to 65% financing for commercial properties such as office buildings and warehouses
- Up to 70% financing for investment and owner-occupied properties
- Up to 75% financing for mixed-use properties
How Are Stated Income and Traditional Loans Different?
Traditional loans and stated income loans have many similarities but they have two distinct differences. The first is the speed with which they are approved. Stated income loans are typically approved more quickly than traditional financing because they require less paperwork. This alternative avenue of financing is also easier to qualify for because it determines eligibility based on property value rather than credit history. Regardless of which type of property your business owns, it qualifies for a stated income loan if the property’s value is greater than the cost of its expenses. This makes stated income commercial real estate loans a great financial solution for companies with less-than-perfect credit histories.
If you are searching for a flexible financial solution to benefit your business, a stated income commercial real estate loan could be the right solution. Emerald Valley Financial Services offers this avenue of financing with competitive terms, so contact us today to see if a stated income loan is right for your business.