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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This is my core business - what size is the loan?
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@theSamParr check your DMs.Thanks. Twitter will use this to make your timeline better. UndoUndo
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I imagine there are lots of variables. Size of the loan to income... Increases in your salary in recent years... Rent/occupancy of the building... Whether you applied as just "CEO" or if you used founder or owner...
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Did you list the c-Corp as something you own a large stake in?
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