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Today, traditional commercial loans are a great alternative to stated income commercial loans for those looking to buy or rent commercial properties. In general, a commercial stated income loan is fixated on the real estate rather than enquiring about the credit history of the buyer. The stated income commercial lenders enquire and checks if the borrower can provide mortgage, insurance, and taxes against the loans. However, as the approval process of a stated income commercial loan is a lot easier and quicker with very few documentations involved, it is better than a traditional commercial loan.
So, let's look at the benefits one can gain from stated income commercial loans- • Debt consolidation A commercial stated income loan can save you a huge amount of money. A person, by paying off the IRS, business credit card debt, consolidating equipment leases, and other monthly expenses, can save up to thousands of dollars every month. • Property Renovations In case you are hoping to expand your parking, lot or want to replace the old roof of your building, you can use a commercial stated income loan in your favor and get the property renovations done. • Refinances In case you have got a balloon or high rate mortgage, you can pay it off by getting in touch with a stated income commercial lender to get your loan approved. Using the loan for paying off your debts can save you good amount on the interest. • Working capital No matter you are an urgent need of money in your bank or if you want to pay off your bills while you are waiting for your payments to be cleared, or maybe you need some cash to take benefit of some great deals on inventory, a commercial stated income loan can be very beneficial in such cases. • Buying a property Using a commercial stated income loan, you can pay off the rent of the building you are going to buy for your business. Get your Loan Approved by the Best Lenders In case you want to know more about the benefits of commercial stated income loans or want to get a loan for your needs, you can get in touch with Private Capital Investors. They are the top stated income commercial lenders who can help you secure your financial future by lending money to you now.
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