Frequently Asked Questions

 

 

Q:	Who We Are?
A.	Stated Commercial, LLC is a national wholesale broker specializing in financing for small commercial real estate. We bring capital to small business owners and commercial real estate owners who have been underserved by traditional lending institutions.
Q:	Why Choose Stated Commercial, LLC?
A.	We're a great alternative-lending source for the many small business investors and commercial real estate owners who don’t qualify under the rigorous requirements of banks.
A.	We make it easy to get financing. Our simple application and “stated income/stated asset” approach makes working with Stated Commercial, LLC a breeze – and getting a loan fast and easy.
Q:	Who should consider a Stated Commercial loan?
A.	Perfect candidates for a Stated Commercial loan are those who need financing for an income-producing or commercial property, but are unable to qualify for traditional bank financing because they're unable or unwilling to verify income or assets. Here are some borrowers that should consider getting a loan through Stated Commercial, LLC: • Those without sufficient credit history • Business owners who want to take cash out of their property • Entrepreneurs and self-employed people who want to purchase a site for their business • Real estate investors who wish to put as little as 10% down (CLTVs up to 90%)
Q:	What type of income verification do you require?
A.	Unlike banks and other conventional lenders that verify the borrower's personal income, we can pre-approve you with a completed loan application that simply states your income and assets. The only income verification required is on the property being financed. We require rent rolls and leases on properties with more than four units certified by you. Our easy “Stated Income/Stated Asset” process allows those of you who are self-employed and who cannot verify all of their income to qualify for financing through Stated Commercial, LLC.
Q:	Can you finance environmentally sensitive property types such as auto repair shops and dry cleaners?
A.	Yes, but the owner needs to complete an environmental questionnaire that must be submitted with the loan package. The information is reviewed by an insurance company in order to determine whether or not the property poses an environmental risk. The cost of the premium varies depending on the loan amount and property type. However, the cost is substantially less than that of a typical Phase I environmental report. By offering this environmental screening process, Stated Commercial, LLC can finance riskier properties that many other lenders will not.