Using a Stated Income Commercial Real Estate Loan To Grow Your Business
A stated income commercial real estate loan is an alternative avenue of financing for businesses that have difficulty securing traditional loans. Companies of all sizes benefit from this type of financing. Grafton Funding offers stated income loans that can be used in a vast variety of ways to enrich businesses.
What Makes Stated Income Loans Different?
Traditional loans require companies to have excellent credit histories to qualify and they often require a significant amount of paperwork. Grafton Funding determines qualification for a stated income loan based upon the value of the business’ property. If the value of the property exceeds the cost of its insurance, taxes and mortgage, it qualifies for this type of financing. The money you receive can be used for many purposes, including those listed below.
- Debt consolidation
- Purchasing equipment
- Obtaining additional property
- Renovating or expanding
- Buying inventory
What Are the Benefits for Stated Income Loans?
Companies only need a credit score of 600 to qualify for a stated income loan. They stand to receive rates of 65% LTV for commercial properties, 70% LTV for investment properties and 75% LTV for mixed-use properties. Loans are fully amortized with fixed rates and come with 25-year terms. Companies that receive this type of financing are provided with W-2 and self-employment documentation as needed. Upon qualifying for a stated income loan, your business stands to receive a loan of up to $500,000.
Contact Us Today
Because stated income commercial real estate loans are flexible and can be used for nearly any purpose, it is an excellent avenue of financing for businesses with poor or limited credit histories. This type of loan provides you with the working capital you need to grow your business. Contact Grafton Funding today to discuss your financial options and see how a stated income loan can help you build a better business.