Stated Income Business Loans

Stated income business loans are back and a great option for businesses looking to purchase or refinance real estate without tax returns holding them down.

If you are unable to get a loan because your tax returns do not show enough income to qualify, then we have a stated income commercial financing program that does not rely on your tax returns for approval. In fact, we will never even ask to see them! We will base our decision for owner-occupied business properties on bank statements, your current credit report, and a business debt schedule.

Banks require your business tax returns to show enough income to service debt. A lot of business owners write off a considerably high amount of their income due to the fact that they can. Unfortunately, this makes getting a bank loan unattainable because it appears that there is not sufficient income to service a loan and they are turned down. This is a shame because there are a lot of business owners who do have sufficient income. They just don’t show it on a tax return because they would have to pay more in income taxes.

It becomes a trade-off. Do you show more income and pay more taxes so you can obtain a loan, or do you show less income and pay less in taxes, with the end result being that you will not qualify for a loan? It is a tough choice, especially when one of the reasons people own a business is to pay less in income tax. Well, stated income loans may the solution for your business then.