Expect to provide additional documents to verify your income when applying for a personal loan as a self-employed borrower.
6.99% APR to 35.99% APR$5,000 to $100,000Two years of tax returnsLast year’s tax return plus proof of recent incomeSelf-employed individuals can take advantage of Avant’s personal loans. The proof of income requirements include submitting your last two years of tax returns from the IRS. You can also submit copies of your Tax Return Transcript, which you can request from the IRS.
Many lenders require a W-2, a full tax return, or an IRS transcript for the last one or two years. The required forms may be different depending on whether your business is a sole proprietorship, corporation, or partnership. For instance, some lenders might look for either a Schedule C or Schedule SE as tax return documentation.A profit and loss statement shows how much income your business brings in. It’s more likely to be accepted if it’s verified by an accountant.
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