For these loans, we look at income reasonability, story and exit strategy. To support your application, we will need the following:
• Complete T1 Generals
• Financial statements if clients are self-employed with an incorporated company
We will also consider other factors such as:
• Financials – Retained Earnings
• Bank statements confirming personal assets/history of regular transfers from outside of the Country.
Pacifica does equity based lending, so minimal income documents are required. We require NOA’s for the file to confirm no personal taxes are owing. On the rare occasion, we may ask for income documents.