There’s More Than One Way to Get a Loan
If you have a sneaking suspicion you’ll be turned down for a traditional commercial loan, or if you’d just rather not go through the trouble, know that Citi Capital Funding has a new way of doing things. A stated income commercial real estate loan can be used a number of ways, all of which are designed for the benefit of your business.
To help you make the most of your real estate loan, we like to educate you on how such financing works and how it’s different from the standard business loans we brought up earlier. A few items to note include:
- Stated income loans are often approved much faster than traditional commercial loans.
- Rather than your credit history, it’s the commercial property in question that receives the most attention when it comes to determining whether you’re approved for your loan.
- You won’t have to worry about very much paperwork with advances, which can’t always be said of standard business financing.
- A stated income commercial real estate loan is well suited for a variety of business properties and industries, such as apartments, restaurants, warehouses and real estate.
Is This Type of Financing Right for You?
While stated income financing has its advantages over regular business financing, there are a few basics of which you should know so you have all the info you need to make the best decision for your business and business goals. For instance, we ask that all applicants have a credit score of at least 600. Know that nearly any type of business property is ideal for this type of financing. What’s more is you can use your financing for consolidating your business debt, buying real estate or refinancing a current loan. Finally, it’s possible to receive financing for as much as $500,000.
Put your business on the path to success. Start exploring your options for stated income business real estate financing today.