P&L Loans California — Resolution Equity
P&L Loans
Qualify using a CPA-prepared Profit & Loss statement — a streamlined alternative to full bank statement review.
Key Benefits
- Qualify with a CPA-prepared P&L statement
- No tax returns required
- No bank statements required (in some programs)
- Faster documentation process
- Ideal for established business owners
- Primary, second home, and investment
- Loan amounts up to $3M+
- Fixed and ARM options available
About P&L Loans
Profit & Loss (P&L) loans allow self-employed borrowers to qualify using a CPA-prepared or accountant-prepared profit and loss statement rather than full tax returns or bank statements. This is one of the most streamlined NonQM options for business owners who have a clear picture of their business income but prefer not to submit months of bank statements.
What is a P&L Loan?
A P&L loan uses a 12 or 24-month profit and loss statement prepared by a licensed CPA or accountant to verify your business income. The lender uses the net income shown on the P&L to calculate your qualifying income.
CPA Requirements
The P&L statement must be prepared and signed by a licensed CPA or tax professional. Some programs require the CPA to certify the accuracy of the statement. A business license or other proof of self-employment is typically also required.
Comparison to Bank Statement Loans
P&L loans can be faster and simpler than bank statement loans since they don't require months of bank records. However, they may have slightly higher rates or stricter credit requirements. Our team will help you determine which program is the better fit.
Questions About P&L Loans?
Our licensed team in Temecula is ready to walk you through your options and get you pre-qualified fast.