Are you self-employed? Do you earn seasonal income? Are you a consultant, promoter, tax-preparer, freelancer, artist or other professional with an irregular income stream? If so, our Bank Statement Program may be perfect for you!

How does it work? Simple.

Instead of requiring years of tax documents, W-2s, or proof of regular payroll checks, we base our lending decision on a combination of your bank statements and a Profit & Loss statement for your business. Even if you earn your income in just part of the year, as long as you maintain bank accounts documenting your income stream we can help!

We offer three scenarios for our Bank Statement Program. Here’s how each scenario works:

• Scenario 1 – Your personal and business finances utilize a single account. You provide bank statements from the most recent 12 consecutive months. You provide a Profit & Loss (P&L) statement prepared by a CPA or a Licensed Tax Preparer. The expenses shown on the P&L must be reasonable considering the borrower’s type of self-employment. The P&L will be the primary source for information to qualify your loan.

• Scenario 2 – You maintain separate personal and business accounts. No profit and loss statement is required. Only your personal bank statements will be considered to determine eligibility. You provide personal bank statements from the most recent 12 consecutive months in addition to business bank statements from the most recent 3 months (in order to verify the maintenance of separate accounts).

• Scenario 3 – You only use business bank statements to qualify. You provide us with business bank statements from the most recent 12 consecutive months. You provide a Profit & Loss (P&L) statement prepared by a CPA or a Licensed Tax Preparer. The business bank statements must reflect deposits no less than 5% of the revenue stated on the P&L.

No two situations are the same!  We can tailor the loan to the situation, not the other way around!