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Proof of Income: All the Ways To Prove Income

Proof of Income

Definition: Documentation or other evidence that is used to prove the income of an individual or business. Apply below for business loans that assist business owners with proving their income.

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Examples of Proof of Income: 

A business owner applies for a business loan and is approved.
One of the closing stipulations is to show evidence of income.  The following is a list of the most accepted forms of proof for businesses and individuals:

1. Employer Pay Stubs
2. Tax Return
3. W-2 Statement
4. W-9 Statement
5. Bank Statements
6. Other Deposit Account statements

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Did you know?

Proof of your income is required for larger loans, such as a large business loan or personal loan.

If a business owner cannot show documentation of income, they can consider other types of business loans that may not require it, such as certain asset based loans.

Customers cannot always show the type of documentation of income that is being requested.
What if you cannot provide documentation of your income? Then see our FAQ Frequently asked questions below.

FAQ proof of income

What is proof of income?

Proof of income is documentation used to verify personal or business income.

What is accepted as proof of income?

Employer pay stubs, tax returns, business or personal bank statements and other account statements are usually accepted as proof of income.

Why do I have to prove my income?

It is often required to verify you can make future payments that you are not making now. This is often for a new car, apartment or mortgage payment. It is also requested for personal and business loans and when buying into franchises or selling a business.

Can I add my spouses income to my income?

You can add spousal income to yours when you represent it as household income. List your income alone when you apply for something individually. If you do not have income and are applying alone, itemize it as spousal income or household income.

Can my credit prove my income?

Good credit shows you have enough income to pay the debts on your credit report now. It does not show if you can pay new debts or loans. The credit report also does not include all of your monthly expenses.

Are bank statements proof of income?

Bank statements may be used to show gross income or receipts. They cannot show all business or personal deductions from your gross income, or net income. Lenders wants to know if your business has the disposable income to service the new debt.


There are other funding Options.   Call us to discuss these options.

What is Proof of Income?

Evidence of Income is requested for many reasons.  Most often they are completed when someone is requesting a product or service, or entering into a Contract or Relationship with someone else.   They are not always looked at the same way.   What is looked for is totally up to the party that is pulling the report and also what they decide about the information.

The following are frequent requests and statements:
– I do not have Proof of Income.  What can I do to provide what is needed?   Other ways to show evidence of income sending Bank Statements.  If all of a person’s income goes into 1 Account, then the most recent bank statements for that account may be used to prove income.  This can be done for a business or an individual.

In summary: Questions and issues addressed:
What is proof of income? How can I prove my income? Give your pay stub, copy of paycheck, tax return, or bank statements and other ways to prove income.

Learn more:

Recent examples from the Web:

Evidence of Income

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