Qualifying for a Stated Income Loan
As a small business owner, you likely know how beneficial financing can be, but you may not realize how many different financing options you have. Likewise, if you are like many small business owners, you may assume you cannot qualify for a loan due to your poor credit or credit history. It turns out that there is a special kind of financing designed to be as accessible as possible. This kind of loan is called stated income commercial real estate financing. Because it is so accessible, nearly any business can qualify, regardless of credit status. Turn to Prime Wealth Development to learn more about stated income loans and how you can be approved.
What Makes Stated Income Loans Different
The biggest difference between stated income loans and nearly every other kind of financing is that credit does not play any role in approval. Instead, we look at the income your business makes regularly. As long as your business is earning a profit and can cover the mortgage, taxes, and insurance of the loan, you can likely be approved. At Prime Wealth Development, we do not believe your past should hold you back today. With the working capital you can gain from a stated income loan, you can:
- Purchase new equipment
- Consolidate debt
- Increase your marketing budget
- Remodel or purchase new real estate
- Hire more staff
- Get back on your feet
You can count on Prime Wealth Development to get you the working capital you need, even if you never thought your credit would allow you to qualify for a loan. We have a team of financial experts to work alongside you and help you make the best financing decisions. Give Prime Wealth Development a call today and learn more about all our options for small business owners just like you. We are always happy to answer any questions you may have.