How P&L Loans Work

If your business is profitable but your tax returns don't show it, a profit and loss loan may be worth a look. Instead of relying on tax returns, these programs use a P&L statement to look at your income.

Who it can help. Business owners and other self-employed borrowers, especially when write-offs lower taxable income or bank deposits don't tell the full story.

Who prepares the P&L. Many programs ask for a statement prepared by a CPA or another qualified tax professional. Some also ask for recent business bank statements to support it.

How far back it goes. Many programs look at about 12 months of income, along with how long you've been in business.

Know the tradeoffs. These loans can come with higher rates or larger down payments than a conventional loan. If a conventional, FHA or VA loan is a better fit, we'll tell you.

What to have ready. Your year-to-date P&L, recent business bank statements, how long you've been in business, and details on the home you're buying or refinancing. We'll tell you what else we need before you pull everything together.

See all of our self-employed and 1099 loan options.

Not sure if it fits? Call or text (303) 931-6776.

Not all programs are available in every state. All loans are subject to credit approval. Rates, terms and conditions vary by program.

Stephanie Cramm, NMLS #243972 | David Cramm, NMLS #565968 | Xpert Home Lending, Inc. NMLS #2179191 | Equal Housing Lender