What a Stated Income Loan Can Do for Your Business
Whether you want to obtain property, build inventory, refinance or consolidate debt to enrich your business, you need access to the right type of financing. Companies without perfect credit scores often have trouble securing traditional financing, but stated income commercial real estate loans could be an excellent alternative. The stated income loans offered by Painted Horse Financial are generous and designed to help businesses of all sizes thrive.
What Are the Advantages of Stated Income Loans?
Flexibility is the primary advantage of stated income loans. As the borrower, you are free to decide how to use the money you receive from a stated income loan from Painted Horse Financial. You will also gain the following advantages if you have a credit score of at least 600:
- 65% LTV for commercial properties
- 70% LTV for investment and owner-occupied properties
- 75% LTV for mixed-use properties
- 25-year terms
- W-2 and self-employment documentation
- Loan amounts up to $500,000
- Fixed rates
How Are Stated Income Loans Different From Traditional Financing?
The main difference between these two types of financing is how they are approved. Traditional loans are approved based on credit history, while stated income loans focus on property value instead. A company qualifies for a stated income commercial real estate loan if it owns property that has a value that is greater than the cost of its expenses. Credit history is not a contributing factor for eligibility so this avenue of financing is ideal for new companies or those that are struggling financially. Stated income loans also require less documentation than traditional financing so they are often approved more quickly.
Get Started Today
Stated income commercial real estate loans are excellent investments for many businesses. At Painted Horse Financial, we offer stated income loans to help companies succeed in the competitive marketplace. Contact us today to see if this financial solution is right for your company.