Have you been turned down by your bank for a commercial loan? Stated income commercial loans require minimal documentation and are designed for borrowers who have been declined for bank financing, or do not qualify for other traditional lending programs.
Common Reasons to Apply for Stated Income Commercial Loans
Borrowers frequently minimize their business income for tax purposes to reduce tax burden, but this practice can make it difficult to qualify for conventional financing. Here are just a few reasons to apply for a stated income commercial loan:
• Inability to provide income;
• Property constraints;
• Tenant issues;
• High Debt Service Coverage Ratio (DSCR).
DSCR is defined as the amount of small business cash flow available to meet annual interest and principal payments on debt, including sinking fund payments. It is calculated as net operating income divided by total debt service.
How does the Stated Income Loan Process Work?
Tax returns are never required and these stated income commercial loans are best suited to those who do not wish to verify all of their income sources, leading to less paperwork, hassle, and a quicker close than traditional bank financing offers. It allows clients to finance commercial property as easy as 1-2-3 and takes business lending to a more personal level.
As a leader in the business, we have access to a large network of companies that regularly finance small business and commercial property, and offer wealth building ideas.
We can help make your commercial loan process quick and painless. Our experienced financial counselors are here to help you achieve financial success while enhancing wealth accumulation.
Stated Income Commercial Loans Protect the Borrower
Stated income commercial loans provide a viable commercial financing strategy to alleviate traditional financial concerns. Stated income commercial loans don’t just help commercial borrowers to obtain loans, but they are quickly gaining recognition as being a vital method to protect the commercial real estate borrower’s overall financial interests, both before and after the loan has closed.
This is one of our most exciting and popular programs. These stated income commercial loans are currently being offered for qualified clients. We help our clients to take action, achieve their financial goals and dreams, and ultimately, to close the deal. Contact us for more information about how you can start the stated income commercial loan process.
