Case Study—Entrepreneur Refinances Two Properties with a Single Profit & Loss Statement

An ultra-successful entrepreneur that I had known for many years came to me for two refinances of residential properties with a business use.

The problem was that his business operations were so large and complex that a bank statement loan would have been a nightmare due to the sheer number of bank accounts involved. A loan based on a tax return would also not have worked, because of the complexity of the return (over 300 pages long).

I used a specialized lender (that we know very well) to do both the refinances on the basis of a Profit & Loss Statement. A single Certified Profit & Loss Statement was drawn up by his CPA, and the refinances were completed in record time, with very little time and effort on the part of the borrower.