Chances of getting approved for a $40,000 loan

[wa3more]

I did not count the side business . I'm not sure how bank would treat it. Usually they want 2 years tax returns and bank statements and so on.

[wa3more]

also OP said about 2k from side business but how much profit is he making ? If this is a break even or marginally profitable business, then it won't matter.

[sccredit]

Most lenders will take 3 months bank statements as POI for self employed.  

[wa3more]

i thought they were more strict on self employed wanting 2 see years of sched c profit loss?  A bank statement will show the cash receipts but not the respective expenses related to the business that is on sched c.

[sccredit]

When I was self employed they always took 3 months of bank statements.  This is back when I had sub 600 FICO scores.  Once over 700 I was never asked for POI.

[wa3more]

did not know that...thanks