Business Loan Solutions for Los Angeles Small Business Owners
Are you a small business owner in Los Angeles, California, having difficulty getting approved for a traditional business loan? We specialize in No Doc Business Loans designed for business owners who earn strong revenue but show low net income on paper.
Understanding No Doc Business Loans
A no doc loan is a type of business financing where approval is based on the gross income of the business rather than net profit. If your business generates high revenue but most of it is written off, leaving little net profit, this is not an issue with our program.
A Good Fit for Expanding Businesses
Many businesses in Los Angeles reinvest their income into growth, renovations, marketing, or operational improvements. This often results in low year-end profit, making it difficult to qualify for bank loans. Our no doc program is built to support businesses in this exact situation.
Why Many Business Owners Avoid Factoring Loans
Business owners with solid monthly cash flow but low adjusted net income are often directed toward factoring loans or accounts receivable loans. These loans usually require six months of bank statements and come with extremely high costs. For example, borrowing $25,000 could require paying back nearly $37,000 in just six months. After repayment, borrowers often need to take out another short-term loan.
Stated Income No Doc Loan Program
Our stated income no doc program allows you to qualify using your yearly income. If you state earnings of $100,000 or $200,000 from last year, that number is used by underwriters to review your application. Qualifying with an annual income can result in larger loan amounts and significantly lower rates.
Lower Rates and Better Loan Terms
Unlike factoring companies, our business loans offer:
1. Competitive interest rates
2. Longer repayment terms
3. Simple interest loans
4. Monthly payments instead of daily withdrawals
5. No prepayment penalties
Apply for a No Doc Business Loan in Los Angeles, California
If you are having trouble getting approved for a business loan in Los Angeles, California, we are here to help. Contact us today and let our team review your options. Fill out the form to the right, and one of our representatives will get back to you shortly.
