Question 1

Can I use personal bank statements instead of business ones?

Accepted Answer

Yes. Many lenders accept personal bank statements. You'll need to show deposits are business-related income.

Question 2

Does my CPA need special credentials for a P&L loan?

Accepted Answer

Most lenders require a licensed CPA or enrolled agent. A bookkeeper's P&L typically won't qualify.

Question 3

Which loan usually has the lower rate?

Accepted Answer

Rates vary by borrower profile and market conditions. Neither loan type is consistently cheaper — credit score and down payment matter more.

Question 4

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Some require 24 months for stronger income qualification.

Question 5

Can I switch between these options mid-application?

Accepted Answer

Yes. We can restructure your file if one method produces a stronger qualifying income. It's worth running both scenarios.

Bank Statement vs P&L Loans: Which Fits Your Stanton Business?