P&L Loans in Arizona: Qualify With a Profit & Loss Statement — No Tax Returns

The cleanest self-employed mortgage almost nobody's heard of. Your CPA prepares a P&L, and that's your income documentation. Arizona and nationwide.

See What You Qualify For
Or call/text Sal directly: (516) 250-1334 — any day, any time

The Self-Employed Loan Most Borrowers Never Hear About

Everyone's heard of tax returns. Some people have heard of bank statement loans. Almost nobody's heard of a P&L loan — and for the right business owner, it's the cleanest path to approval that exists.

Here's the concept: instead of tax returns, and instead of handing over 12-24 months of bank statements for line-by-line review, your CPA (or licensed tax preparer) prepares a Profit & Loss statement for your business — and the lender qualifies you on it. Your accountant's professional statement of what your business actually earns becomes your income documentation.

No 1040s. No deposit-by-deposit interrogation. One clean document from the professional who already knows your books.

Who P&L Loans Are Perfect For

P&L programs shine exactly where bank statement loans get messy:

• Multiple bank accounts — money moving between operating, payroll, and savings accounts makes bank statement analysis a nightmare of excluded transfers. A P&L cuts through it.

• Multiple entities — restaurant groups, contractors with several LLCs, partnership stakes. Your CPA consolidates the real picture; the statements alone never could.

• Co-mingled or complex deposits — merchant processors, wires, factoring, seasonal swings. The P&L shows the business, not the noise.

• Privacy-minded owners — some clients simply prefer not to hand over every bank transaction. Fair.

If your business is real but your banking is complicated, this is your program.

What You Need to Qualify in Arizona

Typical P&L loan requirements (lender-dependent — that's why I shop it):

• The P&L: prepared by a CPA, EA, or licensed tax preparer — usually covering the most recent 12-24 months. Self-prepared P&Ls generally don't fly; the professional's signature is the point.

• Self-employment history: typically 2 years

• Down payment: commonly 15-25% depending on credit and profile

• Credit score: most programs want mid-600s and up

• Sometimes: a couple months of bank statements to sanity-check the P&L — lighter than a full bank statement program, and some lenders skip it entirely

What you DON'T need: tax returns, W2s, or an underwriter dissecting 700 deposits.

P&L vs. Bank Statement vs. 1099 — Which One's Yours?

This is where a broker earns his keep. Same self-employed borrower can qualify wildly differently across these three programs:

• 1099 loan → best when you're a contractor with clean 1099s and strong gross

• Bank statement loan → best when deposits are steady and accounts are simple

• P&L loan → best when the business is solid but the banking is complex, multi-entity, or private

I don't guess — I run your profile against all three and show you which qualifies you highest at the best terms. One conversation, real answers: (516) 250-1334.

Why Work With Me on a P&L Loan

I'm Sal Bossio, mortgage broker with Barrett Financial Group (NMLS #1984347), Chandler-based, serving all of Arizona and licensed nationwide. Complex self-employed files — multi-entity owners, restaurant groups, contractors with layered LLCs — are exactly the deals I like most. I know which lenders run true P&L-only programs, which want supporting statements, and which price best. Banks give you their one box. I've got 200+ lenders' worth of boxes. Fast closings, straight answers, phone answered nights and weekends — 73+ five-star reviews.

P&L Loan FAQs

Does my CPA need to do anything special?
Just prepare and sign a standard P&L for the covered period. I'll tell you exactly what the chosen lender wants so your CPA does it once, correctly.

My business has partners — does that work?
Yes. Your ownership percentage matters (the P&L income gets allocated by your share), and multi-partner files are routine with the right lender.

Can I use a P&L loan for a refinance?
Yes — purchases, rate/term refis, and cash-out all exist in P&L programs.

Are the rates higher?
Higher than full-doc conventional — the standard Non-QM tradeoff. But P&L pricing is often comparable to bank statement programs, and an approval at a fair rate beats a decline at a fantasy one.

What if my P&L shows a strong year but last year was weak?
Program-dependent — some lenders use the most recent 12 months only, which can work strongly in your favor after a growth year. This is exactly the kind of nuance I match to the right lender.

What Business Owners Say

"His tenacity, resourcefulness, responsiveness and work ethic excelled from our complex self-employed income loan application all the way through to closing!" — Phil B., five-star Google review

"He made everything clear, simple, and stress-free — something that's not easy to find in the mortgage world." — Thanh T., five-star Google review

Read all 73+ five-star reviews on Google

Complex business, real income, tired of no?

See What You Qualify For
Or call/text me directly: (516) 250-1334 — any day, any time.

Sal Bossio | Mortgage Broker | NMLS #1984347 | Barrett Financial Group, LLC | Chandler, AZ — serving Phoenix, the East Valley, and business owners nationwide