Question 1

Does my CPA need special certification for P&L loans?

Accepted Answer

Your CPA must hold an active license. Some lenders require specific letter formats, but any licensed CPA can prepare acceptable P&L statements.

Question 2

Can I use quarterly P&L statements instead of annual?

Accepted Answer

Most lenders want 12-24 months in annual or monthly format. Quarterly works if it covers the full timeframe and shows income stability.

Question 3

What if my business is only 18 months old?

Accepted Answer

Some lenders accept 12 months of P&L if your credit and down payment are strong. Newer businesses face tighter guidelines and higher rates.

Question 4

Do lenders verify the numbers on my P&L?

Accepted Answer

Yes. They check business licenses, look for rent or lease payments, and may request client invoices. Your P&L must match actual operations.

Question 5

Can I combine W-2 income with P&L business income?

Accepted Answer

Absolutely. If you have part-time W-2 work alongside your business, we use both income sources to maximize your buying power.

Profit & Loss Statement Loans in Mariposa—Income Proof for Self-Employed Borrowers