Loading
Buellton sits in the heart of Santa Barbara wine country. Business owners here — vintners, restaurateurs, hospitality operators — rarely show clean W-2 income.
A P&L loan uses a CPA-prepared profit and loss statement to verify income. No tax returns. No pay stubs. Just your actual business performance.
680 typical
Min Credit Score
CPA-prepared P&L
Income Doc
10%–20% min
Down Payment
12 or 24 months
P&L History
Profit & Loss Statement Loans in Buellton
Most lenders want a 12- or 24-month P&L prepared by a licensed CPA. A 12-month version is faster but often carries a higher rate.
Expect a minimum 680 credit score at most lenders. Down payments typically start at 10%, but 20% gets you better pricing. Rates vary by borrower profile and market conditions.
Retail banks almost never offer P&L loans. This product lives in the non-QM wholesale market — which is exactly where we operate.
We work with 200+ wholesale lenders. A handful specialize in P&L programs with competitive rates and flexible income calculations.
The biggest mistake I see: borrowers hand over a P&L their bookkeeper typed up in QuickBooks. Lenders reject those. It must be CPA-signed and CPA-prepared.
Lenders calculate qualifying income differently. Some use gross revenue minus expenses. Others use net profit with an add-back for depreciation. That gap can change what you qualify for by hundreds of thousands.
Bank statement loans use 12–24 months of deposits to verify income. P&L loans use a summary document instead. P&L is simpler to produce — but fewer lenders accept it.
A 1099 loan works if you're a contractor with consistent 1099s. A P&L loan fits better when you run a business with variable revenue and significant write-offs.
Santa Barbara County draws business owners with serious assets and serious write-offs. A winery owner netting $400K but showing $80K taxable gets nowhere with conventional financing.
Buellton's market is small but competitive. Sellers expect pre-approval letters that hold up. A P&L loan from a credible lender carries real weight here.
A licensed CPA must prepare and sign it. Self-prepared or bookkeeper-prepared statements will not be accepted by lenders.
Yes, some lenders accept 12 months. Expect a slightly higher rate compared to a 24-month P&L.
Yes — they carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.
Most P&L lenders require a 680 minimum. Some go down to 660 with a larger down payment.
Yes. Loan limits on non-QM products are set by the lender, not FHFA. High-balance amounts are available.
Each lender does it differently. Some use net profit. Others add back depreciation. We compare lenders to find the best calculation for your situation.