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Rebuilding Ireland Loan - Self Employed

Q101 · 2020-06-09 22:01:15

Hi, We are looking into a rebuilding Ireland Loan can anyone tell me as a self employed person, Is it just your profit on your yearly accounts or do they add wage, profit and drawing.

09-06-2020 11:01pm

#1

Q101

Registered Users Posts: 3 ✭

Join Date: January 2018

Posts: 1

Hi,
We are looking into a rebuilding Ireland Loan can anyone tell me as a self employed person, Is it just your profit on your yearly accounts or do they add wage, profit and drawing.

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Comments

#2 10-06-2020 10:31am

Saudades

Registered Users Posts: 380 ✭✭

Join Date: June 2019

Posts: 373

Better to ask in the Property forum, they have a big thread about it already.

https://www.boards.ie/vbulletin/showthread.php?t=2057952657

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#3 10-06-2020 5:36pm

Henry Ford III

Moderators, Business & Finance Moderators Posts: 17,737 Mod ✭✭✭✭

Join Date: January 2006

Posts: 17407

Profits is the key word here. Drawings or wages are reflected in the owners capital account.

Profits are the money the business has made, and is it's the figure that lenders will base their decision on.

The capital account just shows what the owner has done with the profits.

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