Stated Income Commercial Real Estate
Not every business has the opportunity to take out a traditional loan. There are many different reasons that you may not qualify for a small business loan from a bank, but that doesn’t mean that you won’t need to have an influx of funding for a real estate purchase. 2 Good Capital offers a stated income commercial real estate loan that may be the perfect solution.
With a stated income loan, the lender is more concerned about the property value than your credit history. The property must have an income which covers the mortgage, taxes, and insurance, which means you have more flexibility in lending options.
Types of Property Which Can Be Financed
- Office real estate
- Retail real estate
- Apartment buildings
- Real estate used for commercial income
Using a Stated Income Loan
When you take out a stated income commercial real estate loan, it can be used for a number of different purposes to benefit your business. If you’re paying rent on a building, but want to purchase it and build equity in your company, a stated income loan can help you get that money to finance your purchase. You may need to make improvements on a current piece of real estate that has commercial uses. You can upgrade the parking lot, improve the landscaping, or replace a roof.
A stated income loan may be the solution for a high interest rate or balloon mortgage. You may also want to consolidate debt and have one fixed payment each month. Pay off all of your equipment leases and credit cards so that you only have to deal with one loan. Your loan may also be used to take advantage of a deal on inventory or other working capital need.
Make the Call Today
Here at 2 Good Capital, we have financing specialists who work with you to find the solutions for your business. Talk to us about your needs so that we can help you find the financing that fits.