NO DOC LOANS
- OUR #1 SELF EMPLOYED AND SMALL BUSINESS OWNER FAVORITE
- YOU DON’T PROVE TAXES W2'S OR PAY STUBS
- USEFUL FOR THE SELF EMPLOYED IF YOU WRITE OFF MOST OR ALL OF YOUR INCOME ON YOUR TAXES
NO DOC STATED INCOME BUSINESS AND START UP BUSINESS LOANS
WHAT IS A NO DOC LOAN OR LINE OF CREDIT?
Our no doc loan is a loan based off stated income. Stated income means your true income. It's the income you made total for the year. It includes all income included checks, cash, credit cards and any other income that you made. It even includes the income that you made in cash that you may have not included in your taxable income for the year. Since its a stated income product you will not have to prove financial documents including taxes, w2's or paystubs.
WHO USES IT?
This product is used mostly by the self employed or existing businesses who write off most or all of their taxable income or even take a loss. Using stated income or your true higher income will allow you to get the most capital at the cheapest rates. Our Banks want to know that you have a capital cushion and that you can pay them back even if you don't show profit on your tax returns.
WHY DO I NEED THE NO DOC PRODUCT?
If you are self employed, a business owner or a 1099 contractor their is a very high probability that you will asked for income verification thru personal tax returns. If you write off all or most of your income you will not qualify for any type of financing at a traditional bank. Even if you have a high credit score your ability to pay them their money back will need to be proven thru your personal tax returns.
HOW DOES A NORMAL BANK LOOK AT MY PERSONAL TAX RETURNS TO QUALIFY ME FOR A LOAN?
Traditional banks look at income differently then we do. They think your adjusted gross income (income after tax write-offs) is your true income. If you make $100,000 a year gross and you write off $90,000 a year as expenses then your adjusted gross income is only $10.000 a year. If you divide that by 12 months in the year then your true income is only $833.33 a month. Since you already have existing monthly bills (houses, cars, credit cards, student loans etc.) your ability to pay their loan back ( making $10,000 a year) is even worse. If your tax returns make you appear that your living off the cash flow of your business and are not very profitable then you won't qualify for financing.
HOW DO WE QUALIFY YOU FOR FINANCING?
Simple. We use stated income. We don't ask you for taxes, bank statements or a 4506t form to the IRS. Your income is based off what you tell us. Its based off what you truly made for the year. Its stated and not proven. Our product highlights are below.
Income is stated instead of being proven. Taxes, W2’S or Paystubs are not required. Higher stated income means a higher loan approval.
Clients who have had a few problems in the past (late pays, collections, charge offs) may qualify for smaller dollar amounts and go thru a probationary phase and qualify for much more in the future.
Clients that have higher debt utilization or more maxed out credit will qualify
All industries and occupations are allowed
Our consultation is free. We aim for 100% client satisfaction.
No hidden or upfront fees
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 ACH or factoring loan. Terms are up to 7 years. Loan payback is paid once a month. Not Daily.
Call Us at 1-888-294-2584 and ask to speak to one of our loan specialists today!
Our no documentation loans and lines of credit are perfect for the self employed or businesses that don't show enough profit on their tax returns or cannot prove their ability to pay the loan back because they write all their profit off.
If you have ever been turned down by a bank because you can't prove your income we can probably help you!
Our most popular unsecured business and start up specialty loans
- ALL industries allowed!
- Cash only businesses allowed!
- Only need a 620 FICO score minimum to qualify.
- Home based businesses ARE allowed!
- Small business owners don't show taxes. Income is stated, not verified and not proven. Benefits low profit margin businesses!
- NOT a factory/ACH! Loan payments monthly, NOT daily!!
- Can show a loss on taxes
- UP TO $500,000!