Finding the right mortgage option for your self-employed clients is never easy. LendSure has a new product to add to your toolbox: Self-employed borrowers can now qualify for loans based on their business’s P&L statement. LendSure’s streamlined P&L Loan Program is designed for business owners with fluctuating seasonal income or cash business.
A P&L Loan Program – also known as a P&Lstatement loan or P&L financing, is a type of business loan designed for self-employed individuals or businesses that may have ebbs and flows in their income and revenue. It’s an alternative to traditional lending, which often requires stable and consistent financial records.
P&L Loan Program Highlights
LendSure is offering business owners and self-employed borrowers a streamlined process. We bring a wealth of experience in working closely with self-employed borrowers and understanding their unique needs. Some of the highlights of our new P&L Loan Program:
- Streamlined Process: LendSure’s P&L Loan Program offers business owners a simplified and user-friendly process, making it easier for them to access financing.
- Innovative Approach: This product introduces an efficient way to evaluate business finances, setting it apart from traditional approaches in the industry.
- Enhanced Broker-Borrower Relationship: The program can potentially strengthen the relationship with your clients by providing a straightforward and efficient solution for business owners and self-employed borrowers.
- No Self-Employment Questionnaire: Unlike many other lenders, LendSure’s P&L Loan Program eliminates the need for a self-employment questionnaire, making the application process quicker and more convenient.
- Diverse Loan Choices: Our P&L Loan Program accommodates varying needs by offering easy reviews with no bank statements required for loan amounts up to $1M and allowing applicants to provide P&L statements only. For higher loan amounts up to $1.5M, two months of business bank statements are required. The LTV can go up to 80%, depending on the borrower’s FICO score. Additionally, there are cash-out options, with up to $500,000 available for LTV up to 65% and $350,000 for LTV up to 75%.
- Extensive Experience: LendSure has a proven track record of working with business owners – so you can market this program to your clients with confidence.
Want to learn more about our P&L Loan Program? Visit LendSure.com or contact our LendSure Account Executives to learn more!
The LendSure Way
It’s simple. We make loans that make sense. We’re not in-the-box lenders. Of course, there are number ratios, and data to consider, but we know that behind every file, there’s an individual with a unique circumstance seeking a loan. We work hard to offer our commonsense take on lending to borrowers seeking funding for the home of their dreams, another addition to their investment property portfolio, or refinancing of a currently owned property.
Are you ready to benefit from a commonsense approach to lending? Contact us today to learn more about non-QM loans and how partnering with LendSure Mortgage Corp. can help grow your bottom line.