Bank Statement

Borrower Eligibility

Eligibility criteria for a Bank Statement purchase loan can vary among lenders, but the following types of borrowers may be eligible:

  • Bank Statement loans are particularly designed for self-employed individuals who have difficulty providing traditional income documentation. This includes entrepreneurs, freelancers, independent contractors, small business owners, and consultants.
  • Borrowers who own small businesses and can demonstrate their ownership through relevant documentation, such as business registration documents or licenses, may also be eligible for Bank Statement purchase loan.
  • Individuals with seasonal income, such as those in industries like tourism, agriculture, or construction, may find a Bank Statement purchase loan beneficial as they can use their bank statements to prove their income stability over time.
  • Borrowers whose income is primarily based on commissions, such as real estate agents or sales professionals, may qualify for a Bank Statement purchase Loan if they can demonstrate consistent cash flow through their bank statements.
  • Individuals who receive irregular income, such as artists, musicians, or freelance workers, can use a Bank Statement Purchase loan to provide evidence of their income patterns and cash flow.

To determine your specific eligibility and explore available options, consult with our industry specialists who can provide more accurate and tailored information based on your individual circumstances.