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Cloverdale sits at the north end of Sonoma County wine country. A lot of buyers here run their own businesses.
Standard loans use tax returns to verify income. That kills deals for self-employed borrowers who write off heavily.
620 (typical)
Min Credit Score
12–24 months
P&L History Needed
CPA-signed P&L
Income Doc
10–20% min
Down Payment
Non-QM
Loan Type
Profit & Loss Statement Loans in Cloverdale
Your CPA prepares a 12- or 24-month P&L statement. That document replaces W-2s and tax returns entirely.
Lenders want the P&L signed and dated by a licensed CPA. A bookkeeper-prepared statement won't cut it.
Local decision guide
Use this guide to connect profit & loss statement loans eligibility, lender expectations, and local market factors before comparing payment options in Cloverdale.
Cloverdale sits at the north end of Sonoma County wine country. A lot of buyers here run their own businesses.
Standard loans use tax returns to verify income. That kills deals for self-employed borrowers who write off heavily.
Your CPA prepares a 12- or 24-month P&L statement. That document replaces W-2s and tax returns entirely.
Banks don't offer P&L loans. These live exclusively in the non-QM wholesale market.
We work with 200+ wholesale lenders. That matters here — P&L guidelines vary widely from lender to lender.
The P&L is the whole underwrite. A sloppy statement kills the file fast — get your CPA briefed before applying.
Some lenders average income over 12 months. Others use a single-year snapshot. Which one wins depends on your revenue trend.
Bank Statement Loans use 12-24 months of deposits instead of a P&L. Better fit if your books are harder to summarize.
1099 Loans work well for independent contractors. DSCR Loans skip income verification entirely — income comes from the property.
Cloverdale has a strong base of small business owners — vineyard operators, contractors, and hospitality workers.
Many write off aggressively, making tax returns useless for qualifying. The P&L loan was built for exactly this profile.
A licensed CPA must prepare and sign it. Lenders reject statements from bookkeepers or borrowers themselves.
Some lenders accept 12 months. Others require 24. The right lender depends on how long you've been self-employed.
P&L loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.
Most P&L lenders want 10-20% down minimum. Stronger credit and longer business history can help on the lower end.
No. Lenders care about documented income, not where the business operates. Location is not a qualifying factor.
Depends on your financials. We look at both options and match you to whichever lender prices your deal better.