How You Can Qualify for a Stated Income Loan
Nearly all small business owners agree that commercial financing is an excellent tool, but not every business owner can qualify for a loan. It can be especially difficult to be approved if you have poor credit or a low credit score. At Exceed Capital Lending, we do not believe that your past should stand in the way of the success of your current business. That is why the stated income commercial real estate loan exists. This special kind of loan is designed specifically for business owners with a successful businesses, but poor credit, who are looking for financing to make their business even more successful. As long as your business is earning a profit and can cover the mortgage, taxes, and insurance of the loan, you can most likely be approved. Learn more about how Exceed Capital Lending can help you be approved for a stated income loan.
What Sets Stated Income Loans Apart
The most important aspect in determining viability for a stated income loan is how much your business consistently earns. Credit does not play a role in the approval process. This is especially beneficial, because those with poor credit are often the ones who need financing the most. Just like a traditional loan, you receive the working capital you need immediately and are free to use it for whatever you know is best. Some of the most common uses for financing include:
- Increasing marketing
- Purchasing new equipment
- Remodeling or purchasing new real estate
- Consolidating debt
- Refinancing
- Hiring more staff
If you think your business could benefit from a stated income loan, turn to Exceed Capital Lending. We are committed to getting you approved for the financing you need to succeed. Give us a call today to learn more about this special kind of commercial financing. We are always happy to answer all the questions you may have.