Proof of Income

Definition of Proof of Income.  What is Proof of Income?

Proof of Income is documentation or other evidence that is used to prove the income of an individual or business.

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 most accepted forms of proof of income for businesses and individuals:
Tax Returns
Pay Stubs or W-2 Statement
Bank Statements
Financial Statements such as Profit and Loss and Balance sheets.
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If a business owner cannot show Documentation of Income, they should consider other types of business loans that do not require it or for which background information on the applicant is not heavily scrutinized.  To get a business loan without Proving Income,  contact us below at SmallBusinessLoansDepot.com for several options.

Did you know?

Customers cannot always show the type of Documentation of Income that is being requested.
What if you cannot provide Document your income?

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

Proof of Income
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.

Learn more:

Recent examples from the Web:

Evidence of Income

Contact us today for program options.

Personal Income in Small U.S. Counties

Small Counties personal income, considered counties with populations of less than 50,000, represent 69 percent of all U.S. counties, and account for 10 percent of personal income in the United States, according to the Bureau of Economic Analysis, April 25th, 2012.    In these 2,134 counties for 2010, other statistics as follows:

  • Net earnings represented 58 percent of personal income, while property income represented 16 percent and transfer receipts comprised 26 percent.
  • Net earnings increased 3.8 percent, which is up from -5.0 percent in 2009. Property income increased  2.3 %, up from -12.7 %. Transfer receipts grew 5.2 %, down from 12.4 %
  • Personal income growth also varied from 51.6% in Hyde, South Dakota to -18.8% in Hand, South Dakota.
  • Per capita personal income varied from $94,672 in Teton, Wyoming to $16,299 in Crowley, Colorado.

Personal income is a full measure of the income of all individuals from all sources. On top of wages and salaries, it includes employer-provided health insurance, dividends and interest income, social security benefits, with more types of income included.

Personal Income in Small U.S. Counties Resources:

SBA Community Blog and Forum –  Blog and Forums by the SBA, Small business administration.   Questions can be asked and answers provided.

U.S. Department of Commerce – Helps american businesses become more innovative at home and competitive abroad.

U.S. Bureau of Economic Analysis – Provides statistics on consumer spending, corporate profits, travel and tourism and much more.

Entrepreneurworld – Resource for Entrepreneurs, including starting your own business, growing your business.

Bureau of Labor Statistics – Provides companies with up to date information on employment, demand, hiring, productivity and other information that may be useful to companies.

International Trade Administration – Creates jobs and economic growth by promoting U.S. companies abroad to governments in other countries.

Personal Income in Small U.S. Counties info resources:

Department of Labor – Provides information on many labor issues that can be useful to companies, such as insurance, regulation, wages, wage hours, compensation, safety and health

U.S. Patent and Trademark Office – U.S. office to file patents to protect a companies new or existing proprietary products.

U.S. Trade and Development Agency – Promotes U.S. Exports to Foreign Countries, please review if your company is interested in exporting goods to foreign countries.

CEO Refresher – A monthly newsletter on creative leadership ideas. Short articles, brief book reviews, models, management tools, quotations and commentary.

E-Network for CEOs – Online articles and much more for CEO’s

Public Radio Planet Money – All issues money related to the public.

Thank your for visiting our Personal Income in small U.S. Counties resource page!