Apply for a Stated Income Loan
If you want to expand and improve your business but do not have perfect credit, you may not qualify for the best traditional loans. Obtaining a stated income commercial real estate loan is an excellent alternative because it provides you with the funding you need without focusing on your company’s credit history. The money you receive can help you consolidate debt, purchase or renovate property or expand with additional business locations. At MBA Commercial Finance, we offer this type of financing with generous terms to help your business thrive.
What Are Stated Income Loans?
To qualify for a traditional loan, your company needs to have a good credit history. They also require significant amounts of paperwork, but stated income loans typically have minimal paperwork. Instead of analyzing your credit record to determine eligibility, we look at the value of your property to decide if you qualify for a stated income loan. If the property’s value exceeds the cost of its mortgage, insurance and taxes, it qualifies for this type of financing. This financial avenue allows businesses of all sizes to obtain the money they need to expand whether they have a good, poor or limited credit history.
What Are the Terms for Stated Income Loans?
If you have a credit score of at least 600, you could qualify for a stated income loan. When you obtain this type of financing from MBA Commercial Finance, you gain access to the following advantages.
- Self-employment and W-2 documentation
- 65% LTV for storage, warehouse, office and retail properties
- 70% LTV for investment properties
- 75% LTV for multifamily properties
- Most types of property qualify
- 25-year, fully amortized loans with fixed rates
If you want an alternative to a traditional business loan to grow your company, consider obtaining a stated income commercial real estate loan from MBA Commercial Finance. Our loans provide you with fast, flexible funding so you can enrich your business in any way you deem fit.