Business Loan Assistance for Montgomery Small Business Owners
Are you a small business owner in Montgomery, Alabama, having difficulty getting approved for a traditional business loan? We specialize in No Doc Business Loans designed for business owners who generate solid revenue but report low net income.
How No Doc Business Loans Work
A no-doc business loan is underwritten using the gross income of your business rather than net profit. If your business produces strong revenue but most of it is written off for tax purposes, resulting in little net profit, our program can still work for you.
Designed for New and Reinvesting Businesses
Many businesses in Montgomery reinvest their income into renovations, growth, equipment, or daily operations. This often leaves little net profit at the end of the year, making loan approval through banks very difficult. Our no doc loan program is structured to support these businesses.
Why Factoring Loans Can Be a Problem
When business owners have good monthly cash flow but low adjusted net income, they are often directed 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 mean paying back around $37,000 in just six months. Once the loan is paid off, many borrowers must repeat the cycle.
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 during the approval process. Qualifying with an annual income often leads to higher loan amounts and lower interest 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 Montgomery, Alabama
If you are having trouble securing a business loan in Montgomery, Alabama, please contact us today. Our team would be happy to speak with you and help you find a loan option that fits your business needs. Fill out the form to the right, and one of our representatives will contact you soon.
