P&L Only
A CPA-prepared statement, and nothing else.
P&L only programs qualify you on a profit and loss statement prepared by a licensed CPA, EA, or tax preparer. No bank statements, no tax returns, and one of the fastest document packages in Non-QM.
What makes this loan different
- 12 or 24 month CPA-prepared P&L
- Often no bank statements required at all
- Net income from the P&L becomes qualifying income
- Purchase, rate and term, and cash-out eligible
Who this is built for
- Business owners with organized accounting
- Partnerships where deposits are hard to separate
- Borrowers who need a short, clean document list
What the lender is really buying
In a P&L only file, the preparer's license is the credibility. A CPA, enrolled agent, or licensed tax preparer signs a statement of revenue and expenses for the qualifying period, and the net income on that statement is the income used to qualify.
Some lenders ask for two months of supporting bank statements to sanity-check the revenue line. Others take the P&L on its own. We match your file to the lender whose overlay fits the documentation you can actually produce.
Where it beats a bank statement loan
Multi-owner businesses, companies that take payment through several processors, and operations with heavy pass-through activity are messy to analyze by deposit. A P&L cuts through all of that in a single page.
What lenders typically ask for
- A profit and loss statement covering 12 or 24 months, prepared by a licensed third-party preparer — typically a CPA, EA, or licensed tax preparer
- The preparer's license information and, commonly, a signed letter
- Business existence verification
- Two to three months of bank statements in many cases, used to corroborate the P&L
- Credit report, ID, and asset documentation
Requirements vary by lender and by file. This is a general picture of what is commonly requested, not a checklist for a specific loan.
Worth knowing
A self-prepared P&L generally will not work.
The value of this program comes from third-party preparation. A statement produced by the borrower or from accounting software without a licensed preparer's signature is usually not accepted.
Bank statements often have to back it up.
Many lenders require deposits to support the P&L within a tolerance band. A P&L that substantially exceeds what the account shows tends to fail that test.
Fewer lenders offer it.
This is a narrower program than bank statement lending, which means less pricing competition and more variation in guidelines between the lenders who do offer it.
The preparer has to be willing.
Some CPAs decline to prepare a P&L for lending purposes, or will prepare one but not sign additional lender forms. Worth establishing early rather than at underwriting.
See what this program would take in your case.
We are brokers — this program is shopped across hundreds of wholesale lenders, not quoted off one rate sheet. A short application gives us enough to compare real options.
Program availability, terms, guidelines, and documentation requirements vary by lender and are subject to underwriting and change without notice. This is not a commitment to lend.