Qualifying for a Stated Income Loan
Most small business owners know how beneficial small business loans can be, but many are hesitant to apply. This may be due to fear of being rejected, or even because they have been rejected in the past. If you have poor credit, it can seem like financing is completely impossible, but this is not the case. There is a special kind of financing that is designed to be accessible to business owners with poor credit. This is the stated income loan. If you think your small business could benefit from this unique type of small business loan, turn to Capner Business Capital. We are committed to getting you approved for the loan you need.
What Sets Stated Income Loans Apart
Unlike nearly every other kind of financing, the stated income loan does not use credit scores to determine approval. Instead, it relies primarily on the income of the business. This means if you are making a profit each month, you most likely can be approved, regardless of what your credit situation is. At Capner Business Capital, we do not believe that your past should hold you back. If your business is successful, then it is worth investing in. With your new working capital, you could:
- Hire more staff
- Increase marketing
- Purchase new equipment
- Consolidate debt
- Remodel or purchasing new real estate
The other major requirement of this kind of financing is that your business can cover the mortgage, taxes, and insurance of the loan. With these few qualifications out of the way, you can receive the funds you need to make your business a success. We believe in your business’ ability to succeed. Turn to Capner Business Capital to learn more about all the financing options you have and give us a call to get started today. We are always happy to answer all your questions.