No tax returns, what are my loan options?

Question

I started my hospitality company back in Feb 2020 and luckily did not get a restaurant location due to Covid. I never set up a payroll until May 2021.

I have no income tax statement for the entire year of 2020 and half of 2021.

What do you recommend I do for a loan?

Thank you!

Tarik Turner · Answer

This all depends on what type of loan you are looking. Need to be a bit more specific on what you are trying to accomplish

Chris Mason · Answer

Can you provide more detail on what your actual goal is? There's a lot more to it than "a loan." Are you buying a single family home to live in, a triplex to rent out...?

Marci Stein · Answer

Owner financing, personal loans,

cash out refi if you already own your home,

hard money loans.

Chris Cambridge · Answer

Liquidity and credit must be up to par. 700 Credit and shoot for 8-9 months reserves. Then you have to consider exit. Is it for fix and flips or long term rental or hospitality?

No tax returns, what are my loan options?

No tax returns, what are my loan options?

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