Business Financing Options for Miami Small Business Owners
Are you a self-employed small business owner in Miami, Florida, having difficulty getting approved for a business loan? We specialize in No Doc Business Loans designed for business owners who earn strong revenue but show low net income.
How No Doc Business Loans Work
A no-doc business loan is underwritten using the gross income of the business instead of net profit. If your business generates high revenue but most of it is written off, leaving limited net profits, this will not prevent you from qualifying.
Designed for Growing and Reinvesting Businesses
Many businesses in Miami reinvest most of their income back into operations, renovations, marketing, or expansion. Because of this, net profit at the end of the year may be low, which often makes qualifying for traditional loans difficult. Our no doc program is built to support businesses in this position.
Why Factoring Loans Cost More
When business owners have strong monthly cash flow but low adjusted net income, they are often pushed toward factoring loans or accounts receivable loans. These loans require six months of bank statements and usually come with extremely high costs. For example, borrowing $25,000 could result in paying back up to $37,000 within six months. Once repaid, many borrowers must repeat the process.
Stated Income No Doc Loan Program
Our stated income no doc program allows you to qualify based on your yearly income. If you state that your business earned $100,000 or $200,000 last year, that number is used by underwriters during the approval process. Using annual income often allows you to qualify for larger loan amounts with much lower rates.
Better Terms Than Factoring Companies
Unlike factoring companies, our loans offer:
1. Low interest rates
2. Long repayment terms
3. Simple interest loans
4. Monthly payments instead of daily deductions
5. No prepayment penalties
Apply for a No Doc Business Loan in Miami, Florida
If you are having trouble getting approved for a business loan in Miami, Florida, please contact us today. Our team would be happy to speak with you and help find a loan solution that works for your business. Fill out the form to the right, and one of our representatives will contact you shortly.
