Profit and Loss Program

Our CPA prepared Profit and Loss program is great for when your licensed CPA signs and provides us with your company's most recent 12 month Profit and Loss statement, whereby allowing us to compare it to your last 2 months of bank statements.   

From there, based on qualified deposits, we average out your 2 months of income, then multiply that average by 12 to come up with a 12-month calculated total.  That annualized income is then compared to the gross revenue found on the CPA prepared P&L.  A +/-10% variance is allowed between the CPA gross income and the 12-month calculated total. 

• The CPA preparing the P&L must have prepared and filed the borrowers’ most recent business tax returns (Self-employed borrowers who file their own tax returns are ineligible)
• The Net income on the P&L is used as the final income
• The final income used can not exceed the income declared on the initial application.

Contact us or give us a call!