Help Your Business Stay Afloat With Stated Income Commercial Real Estate
When a business is struggling financially, it may be difficult to get the capital necessary to keep it afloat, especially if the business owner’s personal finances are also struggling. However, more owners are turning to their commercial property as a way to bring in capital. JNI Commercial Lending provides stated income commercial real estate loans for a variety of companies.
How the Loan Works
A stated income commercial real estate loan is based not on how much your company makes or how much you are worth, but on how much value your commercial property has. Although the specifics are based on the type of property, a wide range of properties qualify for this type of loan. They include:
- Multi-family housing units
- Investment properties not occupied by the owner
- Mixed use properties
- Self-store properties
- Warehouse properties
- Auto service properties
- Office properties
What to Expect
Loans based on your commercial real estate require a credit score of at least 600, although some types of properties require a score of 700. You must also provide a W-2 or documentation of self-employment. These loans are fixed rate, 25-year amortized loans in amounts of as much as $500,000. Although the loan-to-value depends on the type of property, it can be up to 75 percent.
- Multifamily and mixed-use properties with at least five units have an LTV of up to 75 percent
- Investment properties not occupied by the owner have an LTV of up to 70 percent
- Most other types of properties have an LTV of up to 65 percent
Practically any type of property can qualify and you can use the funds for refinancing, consolidating business debt or making purchases that will allow your company to continue operation.
Schedule a Consultation Today
A financial expert from JNI Commercial Lending can help you determine if a stated income commercial real estate loan is right for you and your business. Contact us today to find out more.