Question 1

Can I use my bookkeeper instead of a CPA for the P&L statement?

Accepted Answer

No. Lenders require a licensed CPA to prepare and sign the statement. Bookkeeper statements get rejected during underwriting every time.

Question 2

How far back do my business bank statements need to go?

Accepted Answer

Most lenders want 3-6 months of business bank statements to verify the P&L accuracy. They check that deposits match the profit figures your CPA reported.

Question 3

What if my business showed a loss one quarter during the statement period?

Accepted Answer

One loss quarter usually doesn't kill the deal. Lenders average your profit across all months and accept seasonal fluctuations common in Reedley agriculture.

Question 4

Do I need tax returns in addition to the P&L statement?

Accepted Answer

Most lenders want to see returns but won't use them for income qualification. They verify you filed and check for consistency with the P&L.

Question 5

Can I qualify using P&L statements from multiple businesses?

Accepted Answer

Yes. Your CPA can combine profit from multiple entities you own. Each business needs separate P&L documentation covering the same time period.

Question 6

What rate should I expect compared to a conventional loan in Reedley?

Accepted Answer

Expect 1-2% higher than conventional rates. Rates vary by borrower profile and market conditions but range from 7-9% as of February 2026.

P&L Statement Loans for Self-Employed Borrowers in Reedley, CA