How a Stated Income Commercial Real Estate Loan Could Help Your Business Thrive
If you need to refinance, improve or purchase property, build working capital, or consolidate debt to help your business thrive, you need access to the best financial solutions available. Platinum Commercial Finance offers excellent lending options for any type of business. For those that have trouble securing a traditional loan due to poor credit history, a stated income commercial real estate could be the financial solution.
Differences Between Traditional and Stated Income Loans
Traditional loans are great financial options for businesses with a stable credit history, because they focus primarily on the credit score of the borrower for approval. These types of loans also come with a significant amount of paperwork.
Stated Income Commercial real estate loans are wonderful options for businesses with a poor credit history, because approval is based solely on the value of the property in question. Any type of property qualifies as long as its value exceeds the cost of its mortgage, taxes, and insurance. As an additional bonus, stated income loans require minimal paperwork an are typically approved more quickly than traditional ones.
Terms for Stated Income Loans
Whether your business deals with offices, restaurants, or retail spaces, Platinum Commercial Finance offers excellent terms for stated income commercial real estate loans. A qualifying credit score of 600 or more gives you access to the following terms.
- W-2 and self-employment documentation
- Significant loan amounts of up to $500,000
- Up to 65 percent LTV for retail, warehouses, office, and self-storage buildings
- Up to 70 percent LTV for investment properties
- Up to 75 percent LTV for multi-purpose properties
- 25-year terms
- Fixed rates
- Flexibility to use funds in a variety of ways
Get Started Today
A stated income commercial real estate loan from Platinum Commercial Finance could be the financing solution your company needs to thrive. Contact us today to discuss financing options and get the funding you need to build a better business.