Helping Your Business Purchase Real Estate
Real estate can be an investment for the future of your business, but it can also be costly. That’s why Think Big Capital provides stated income commercial real estate loans to help businesses grow without taking on a huge financial burden.
The Ways This Loan Can Be Used
The type of property you are working with may be different from another business, which is why we make this loan available for a wide range of property types including apartment buildings, restaurants and warehouses, among others. The funding itself can be used in the following ways:
- Refinancing
- Renovating
- Working capital
- Buying pieces of real estate
- Consolidating your outstanding debt
The Details You Need To Know
The loan agreement you receive is depending on your business needs and the results of your application. However, the general details about our loans are as follows:
- Terms up to 25 years
- Fixed rates
- A maximum amount of $500,000
- 65% to 75% LTV
The Aspects That Make This Loan Unique
The are two major differences between a traditional loan and a stated income commercial real estate loan. The first is the amount of paperwork involved. While traditional loans have massive piles of paperwork associated with the funding, stated income loans do not. However, you do have to show the necessary proof of income documents, such as a W-2.
The second difference is that with a traditional loan, the borrower’s credit history is a major consideration. However, the same is not true with a stated income loan. Instead, the full value of the property in question is more important. This is because that value must take care of the loan’s insurance, mortgage and taxes.
We Have an Application for You
If your business is ready to take on a new venture and you need funding, Think Big Capital is here for you. Call us today to fill out an application for our stated income commercial real estate loan so you can grow your business.