Start Up Business Financing Looks at Your Past Income and Other Sources of Income
Did you know a lender will look at your employment and wages for the last few years to ensure that you have historically earned enough money to cover your personal living expenses. The lender will also review your other sources of household income, including any of your outside employment, your spouse’s wages, child support, disability income or retirement. If you have any form of income from outside the business it will strengthen your situation as it shows that you are not dependent on a draw from the business to meet personal living expenses.
Wishing You the Best,