This is a question was originally posted on Quora.

The loan officer is evaluating your ability to service the debt.  Here is why.

Even if you will no longer be working your old job it’s important to the loan officer to have some certainty that there aren’t other sources of income or liabilities which is why it’s standard practice to get your tax returns.

Imagine for instance you own another business that loses money each year. It is possible that your new business could be used to help the other business survive instead of using the income to payback your loan.