No Doc Business Loans & Business Lines of Credit
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What is a no doc business loan or business line of credit?
Its a business loan or business line of credit where you do not have to prove your income. No doc means no proof of financials. This means no taxes, no bank statements, no financials period.
If your self employed, 1099 or a cash only paid employee then the no doc program may work for you.
The financing goes under the EIN # of your business and not on your personal credit report.
Since the financing only goes under your business credit report, its a great way to build business credit separately from your personal credit profile.
If your already in business and show low or zero profit on your tax returns or have not filled your tax returns in a while, the no doc program is a great way to get financing quickly with the least amount of headaches.
FAQ’s
What is a no doc stated income loan or line of credit?
It’s a loan or a line of credit where you do not have to prove income. It’s very useful for the self-employed because they write all their income off.
If I am self-employed, how would a no doc stated income loan or line of credit benefit me?
If you write off all your gross income or your adjusted income or net income is very small on your taxes then you would not qualify at a normal bank or a credit union because the underwriting department would think you don’t make enough money to pay the loan back.
What credit score do I need to qualify?
At a minimum you need a 650 credit score but we also have options for cosigners.
Benefits
- • No need to provide tax returns, pay stubs, bank statements, or W2s.
- • Higher stated income means a higher loan approval.
- • All industries and occupations are allowed, including business owners, 1099 contractors, and cash-only paid clients.
- • Clients with higher debt utilization or more maxed-out credit will qualify for smaller amounts ($10,000 to $15,000).
- • Clients with light credit or low trade lines will qualify for a limited amount of funding (up to $35,000) until credit becomes more established.
- • Our No Doc Loans are not MCA or factoring loans, and terms are up to 7 years.
- • Loan payback is made once a month, not daily.
- • A minimum credit score of 650 is required to qualify.
Our Programs Could Be the Solution You’ve Been Looking For
Stop worrying about complicated processes and financing arrangements with high interest rates. Let us work with you to find a better fit for your funding.
Free Consultation
Our dedicated support team is available around the clock to assist you.
Tailored Solutions
We will help you find the best solution for your funding needs.
Step 1
Get Approved
Apply today and get approved quickly
Can’t show your financial paperwork?We use stated income to qualify you! We don’t need it!
Step 2
Get a Solution
Get a solution through your funding specialist
Call us at 888-294-2584 and we will give you a solution to get financing for your business!
Step 3
Get Cash
Get the money you need in your account without fuss
We can help you get the financing you need in about a week!
