Flexible Business Financing for Las Cruces Business Owners
Are you a small business owner in Las Cruces, New Mexico, or someone who is struggling to get approved for a business loan? We specialize in No Doc Business Loans that focus on your business revenue rather than your net income.
What Is a No Doc Business Loan?
A no-doc business loan is underwritten using the gross income of the business, not the net profit. If your company brings in strong revenue but shows low profits because of write-offs, this type of loan may be a good fit for you.
Built for Businesses That Reinvest Their Income
Many businesses in Las Cruces reinvest most of their income into growth, renovations, or operational improvements. This often results in little net profit at the end of the year, making traditional loan approval difficult. Our no doc program is designed to work with businesses in this situation.
Why Factoring Loans Cost More
When business owners have consistent cash flow but low adjusted net income, they are often pushed toward factoring loans or accounts receivable loans. These loans usually require six months of bank statements and come with very high costs. For example, borrowing $25,000 may result in paying back as much as $37,000 within six months. After repayment, many borrowers are forced to take another short-term loan.
Stated Income No Doc Loan Program
Our stated income no doc program allows you to qualify based on your yearly income. If you state earnings of $100,000 or $200,000 from the previous year, that amount is used by underwriters during the approval process. Using annual income can help you qualify for larger loan amounts with more affordable rates.
Better Terms Than Factoring Companies
Our loans are different from factoring loans because we offer:
1. Low interest rates
2. Long loan terms
3. Simple interest structures
4. Monthly payments instead of daily deductions
5. No prepayment penalties
Apply for a No Doc Business Loan in Las Cruces, New Mexico
If you are having trouble getting approved for a business loan in Las Cruces, New Mexico, please contact us today. We would be happy to review your situation and help you find a loan option that works for your business. Fill out the form to the right, and one of our representatives will contact you soon.
