Business Loans for Every Company
Stated income commercial real estate loans from Blue Ridge Financial Solutions are a great way to get money for improving property, purchasing real estate, refinancing, or consolidating debt. If you have had a difficult time getting a traditional loan due to credit history, you may still be eligible for a loan through stated income. It focuses on the value of the real estate in question rather than on the credit history of the borrower.
How It Works
A stated income commercial real estate loan requires the value of the real estate to cover all the costs of servicing the loan, including taxes, mortgage, and insurance. In addition, this loan has the following parameters:
- A qualifying credit score of 600 or above
- W-2 or self-employment documentation
- 25-year amortized loans with fixed rates
- Many different properties types accepted, such as warehouses, apartments, and restaurants
How It Helps Your Business
The funds from a stated income loan can be used for a wide variety of business expenses. Consolidate your debts into one low monthly payment. Expand your business into new markets. Purchase additional property or equipment that will help you stay competitive in the market place. Enjoy generous loan-to-value ratios, such as:
- Up to 65% loan-to-value for auto service, retail, self-storage, office, and warehouse properties
- Up to 70% loan-to-value for non-owner occupied investment properties of one to four units
- Up to 75% loan-to-value for mixed use and multifamily properties with five or more units
How It Saves You Time
Traditional loans require miles of paperwork to prove business income and profitability. This takes time that you should spend on growing your business. With a stated income loan the paperwork is simple. We need a credit score, a W-2 or proof of self-employment, and information on the property itself. We’ll do the rest of the math.
Reach out today and get ready to grow.