No documentation commercial loans, commonly referred to as “no-doc” loans, are a viable financial option for those who are self-employed, or do not wish to verify their income at all. They are similar to stated income loans, but typically yield a higher interest rate and require little-to-no income, employment or asset documentation. The no documentation loan is based entirely on the cash flow of your property, down payment and credit history.

Common Reasons to Apply for a No Documentation Commercial Loan

The self-employed small business owner may sometimes find it difficult to verify what traditional loans require, but no documentation commercial loans streamline the borrowing process. With little to no documentation required, no documentation commercial loans process quickly and painlessly.

Here are a few other reasons to apply for a no documentation commercial loan:

•    Varied or unstable income
•    Work on commission
•    Privacy issues
•    Strong credit report

How Does the No Documentation Commercial Loan Work?

Verification of income is typically not required. The loan decision is based on a credit report and an appraisal of the property. These types of loans are best suited for the self-employed, or for those who do not want the hassle or to make the time investment of a traditional commercial loan.

As a leader in the loan business, we will help you pick the right loan for your business and cash-flow needs. Our staff is highly trained to help you make the right choice when it comes to an array of loans that include: small business expansion loans, office building loans, commercial constructions loans, church construction loans, apartment building financing, financing commercial property, financing small business, and much, much more.

Benefits of a No Documentation Commercial Loan

The benefits of a “no-doc” commercial loan include a shorter application process since you are not required to provide income, employment or asset documentation and a streamlined approval process because there is little subsequent verification. However, no documentation commercial loans, generally, will yield a slightly higher interest rate and are offered by fewer lenders.
No documentation loans are often available at 6-month adjustable, 2 3, 5 and 7 year arms.  Fifteen and 30 year commercial loans may also be available.