Startup founders: when buying property, were you required to show your startup's tax returns?
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I'm buying multi-family apartments. One of the lenders is asking for our c-corp's tax returns. But technically, I'm an employee of a c-corp even if a majority shareholder. So then how on earth does the business tax returns come into play here?
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Some lenders have said "well we need to know if the business is stable so you can pay back the loan." So then do they also look at the tax returns of the business that employs every lendee?
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Yes needed 3 years returns for the C-Corp plus personal returns. As my income was largely derived from the C-Corp, needed to check on its financial health
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I think that's dumb. Do they then look at the tax returns of all employers? Like, if you're a non-owner, you can get fired or the biz that you don't control can go out of business.
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where are you buying? I've got a few in Atlanta to sell
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