Best No Doc Mortgage Companies

Stated Income / “no-doc loans”

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No doc loans, also known as no documentation loans, are a type of business financing that allow you to apply for and get a business loan without all the paperwork typically required for conventional business loans. Here’s how they work:

Conventional Business Loans:
When you apply for a conventional business loan, lenders usually ask for various financial documents, including:
Personal bank statements
Business bank statements
Personal tax returns
Business tax returns
Business plan
Profit and loss statement
Articles of organization
Gathering all these documents can be time-consuming, and you might not want to share them with your lender for various reasons.
No Doc Business Loans:
No doc business loans streamline the loan application process by reducing the paperwork.
Instead of submitting multiple documents, you’ll fill out a simple application with basic details about yourself and your business.
The lender will usually pull your credit report and may connect with your business bank account and accounting software.
With this information, a no doc lender can make a decision about your loan application.
Keep in mind that even with no doc loans, lenders may still ask for additional documentation, but they won’t require the extensive paperwork of conventional loans.
Think of no doc business loans as low doc business loans—they simplify the process but still involve some level of financial analysis1.
Types of No Doc Business Loans:
No doc business loans are typically not long-term loans. Instead, they include the following types of business financing:
Line of Credit: A revolving credit that allows you to borrow, repay, and borrow again. It offers flexibility and works for various