Business funding requirements: what you actually need
Requirements vary by product, but most business funding comes down to a few things: time in business, revenue, and clean bank statements. Here's what to have ready.
This article is educational and is not an offer of credit.
Key takeaways
- Most revenue-based options want ~6 months in business and steady revenue.
- Bank statements are the core document, usually 3 to 6 months.
- SBA loans require more: stronger credit, financials, and time in business.
- No credit pull is needed just to see your options.
The core requirements
Across most fast, revenue-based funding, approval comes down to a short list:
- Time in business, around six months or more
- Average monthly revenue, often $10k or more
- An active business bank account
- Consistent deposits and healthy cash flow
- A U.S.-based business
Documents to have ready
Having these on hand makes the process fast:
- 3 to 6 months of business bank statements
- A government-issued photo ID
- Basic business details (EIN, entity type)
- Voided check or bank details for funding
Requirements by product
Fast products ask for less; lower-cost products ask for more. A merchant cash advance mainly needs revenue and a few months in business. A business line of credit may add a light credit and financials review. An SBA 7(a) loan expects stronger credit, tax returns, and typically two or more years in business, in exchange for the lowest rates.
How to improve your approval odds
Keep your deposits consistent, avoid negative-balance days, and limit how many advances are stacked on the business. If you are close on time-in-business or revenue, a quick review will tell you what is realistic now and what to shore up. Not sure where you stand? The fastest way to find out is to check your options, no credit pull to start.