I will apply for a small business loan. I have financial statements and copies of my tax returns ready to go. Should I tell my loan officer that I really make more income than I show here?
When you are asked for tax returns and financial statements you will attest that all that information is true and correct. You would either not be telling the truth on those documents or orally, when you say you earn more than you report. Either way your loan request would now be questionable to to the lender. Report what you earn.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
When you are asked for tax returns and financial statements you will attest that all that information is true and correct. You would either not be telling the truth on those documents or orally, when you say you earn more than you report. Either way your loan request would now be questionable to to the lender. Report what you earn.
