How Your Business Can Benefit From a Stated Income Loan
As a small business owner, you know that it can be difficult to qualify for a loan. As beneficial and appealing as financing can be, it does not do you any good unless you can be approved. For business owners who have a poor credit score, this is no easy challenge. If you are worried about this, consider applying for a stated income commercial real estate loan. Stated income loans are designed to be incredibly accessible as long as your business is successful. Do not let your past hold your current business back anymore. Turn to Value Capital Funding. We believe in your business’ ability to succeed and will do everything we can to get you the working capital you need.
How Stated Income Loans Are Different
The reason it is so much easier to qualify for a stated income loan is because it is not based on your credit. Instead, you use your business’ income to qualify. This means that any business that is earning a profit from one month to the next can most likely be approved. The other major requirement is that your business can cover the mortgage, taxes, and insurance of the loan. Once you have your new working capital, you are free to implement it to make improvement or increase your profits even further. If you use your loan correctly, you may be able to permanently increase your income even after you are done making payments. Some of the most common uses for a stated income loan are:
- Increasing marketing
- Purchasing new equipment
- Consolidating debt
- Hiring more staff
- Purchasing a second location
At Value Capital Funding, we focus on figuring out exactly what kind of financing plan fits your unique needs. That is why our financial team of experts works alongside our clients so closely. Give us a call and learn more. We would be happy to answer all your questions.