How Stated Income Loans Are Different
Have you applied for a small business loan before, but been denied? Are you worried that your poor credit score may hold you back from qualifying for a loan? While financing is an incredibly common part of the modern world of business, traditional loans are still not appealing to some business owners.
The solution is stated income commercial real estate loans. This special kind of financing is not based on your credit history or credit score. Instead, to be approved, the proof of your business’ income is examined. This makes it perfect for businesses owners whose business is profitable, but who has poor credit. Additionally, your business must be able to cover the mortgage, taxes, and insurance of the loan. Here at IRC Commercial Lending, we believe in your business’ ability to succeed. That is why we do everything we can to help you be approved for a stated income loan.