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Fillmore sits in Ventura County's agricultural and small-business corridor. Many borrowers here run their own operations and don't fit the W-2 mold lenders typically expect.
A P&L loan uses a CPA-prepared profit and loss statement to verify income. No tax returns. No pay stubs. Just documented business financials.
620+
Min Credit Score
CPA-Prepared P&L
Income Doc
2+ Years
Business History
10–20% Typical
Down Payment
Non-QM
Loan Type
Profit & Loss Statement Loans in Fillmore
Most lenders want a 12- or 24-month CPA-prepared P&L. It must show consistent income and be signed by a licensed accountant.
Credit scores typically start at 620. Down payments often run 10–20%. Lenders also want to see that your business has been operating for at least 2 years.
Local decision guide
Use this guide to connect profit & loss statement loans eligibility, lender expectations, and local market factors before comparing payment options in Fillmore.
Fillmore sits in Ventura County's agricultural and small-business corridor. Many borrowers here run their own operations and don't fit the W-2 mold lenders typically expect.
A P&L loan uses a CPA-prepared profit and loss statement to verify income. No tax returns. No pay stubs. Just documented business financials.
Most lenders want a 12- or 24-month CPA-prepared P&L. It must show consistent income and be signed by a licensed accountant.
Your local bank won't offer this. P&L loans live in the non-QM wholesale market — specialty lenders who underwrite self-employed income differently.
SRK CAPITAL works with 200+ wholesale lenders. We find which ones price P&L loans most aggressively for Ventura County borrowers right now.
The biggest mistake I see: borrowers hand over a P&L their bookkeeper threw together in QuickBooks. That gets declined fast.
Your CPA needs to prepare and sign the statement on their letterhead. Lenders verify the CPA's license. Shortcuts here kill deals.
Bank statement loans use 12–24 months of deposits to calculate income. P&L loans let your CPA summarize it instead. Both work — but one may show higher income depending on your business.
1099 loans work if you file 1099s and your gross income holds up before deductions. P&L loans are better when your tax write-offs make your reported income look too low.
Fillmore has a strong base of farmers, contractors, and trade business owners. Many write off significant expenses, which tanks their taxable income on paper.
That gap between real income and reported income is exactly what P&L loans solve. A well-prepared statement shows what you actually earned — not what the IRS sees.
Some lenders accept 12 months. Others require 24. The longer statement typically gets you better rates and higher loan amounts.
Most lenders require 2 years in business. A newer operation usually won't qualify regardless of income shown.
Doesn't matter where they're licensed — California or out of state both work. The CPA just needs an active, verifiable license.
Yes. Non-QM products carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.
Some lenders allow a blended approach. We'd shop that across multiple wholesale lenders to see who structures it best for you.