What Can a Stated Income Loan Do for Your Business?

Having access to flexible financing is a crucial aspect for the growth of your company. If you are looking for an alternative to traditional financing, a stated income commercial real estate loan could be the ideal solution. Summit Commercial Capital offers this avenue of financing with generous terms.

What Makes a Stated Income Loan Different From Traditional Financing Options?

You are free to use the money you receive from a stated income loan in any way you deem fit to improve your business, while the money from traditional loans is often designated for specific purposes. Stated income loans are usually approved more quickly than other types of financing because they require less paperwork and documentation, and they are easier to qualify for. Instead of focusing on credit history, stated income loans base approval on property value. Your company qualifies for this avenue of financing if the value of its property exceeds the cost of its expenses, regardless of your credit score. This makes stated income loans an excellent alternative for businesses that are struggling financially.

What Are the Advantages of Stated Income Loans?

Flexibility is the main benefit of stated income loans. You can choose to use the money you receive in a wide variety of ways, from consolidating debt to stocking inventory. A credit score of at least 600 also earns you the following benefits.

• Commercial properties earn up to 65% LTV.
• Investment and owner-occupied properties earn up to 70% LTV.
• Mixed-use and multi-family properties earn up to 75% LTV.
• Loan amounts of up to $500,000 are available.
• Loans come with W-2 and self-employment documentation.
• Choose a loan term of up to 25 years with fixed rates.

Get Started Today

A stated income commercial real estate loan is an alternative avenue of financing that can benefit businesses of all types and sizes. If you think a stated income loan is right for your company, contact Summit Commercial Capital today.