Stated Income Commercial Real Estate Loans and You
Are you a commercial property owner looking for financing? Are you having trouble securing a bank loan due to your credit history? With a stated income commercial real estate loan, 5 Star Funding Group can help you purchase new property, improve existing property, consolidate debt, and build working capital.
What Is a Stated Income Commercial Real Estate Loan?
A stated income loan is predicated on the property you own rather than your credit history. It is typically recommended for businesses that own commercial properties such as restaurants, warehouses, and multi-unit housing structures. If your property’s income value covers the related mortgage, taxes, and insurance, you likely qualify for a loan. The limited documentation you need for a stated income loan application means you can be approved much quicker than with a traditional loan.
What Are the Benefits of a Stated Income Loan?
There are many advantages to a state income loan:
- Fixed rates
- Loan amounts up to $50,000,000
- Almost any commercial property type accepted
Another advantage is that the funds can be used for many different purposes. If you have outgrown your current location or want to change from being a renter to an owner, you can use the funds to purchase a new building. Perhaps your property needs additional parking spaces or you want to add more units to your apartment complex; use the loan to improve the property you already own. If you have credit card debt or other loans, you can reduce your monthly expenses by consolidating the debt with 5 Star Funding Group. If you need to pay bills while waiting for a client to pay a large invoice or you want to buy new equipment, use the loan for working capital.
Whether you’re an established company with growing pains or a new business still getting off the ground, you can benefit from a stated income commercial real estate loan. Let the professionals at 5 Star Funding Group help your business thrive.