What do I need to qualify for a business loan?
The short answer
For most of the financing options we connect, you need three things: credit of 600 or higher, at least 6 months in business, and sales of $7,000 or more per month. With that profile, amounts range from $5,000 to $3,500,000 depending on the product: business loans, lines of credit ($5,000 to $100,000), equipment financing, SBA loans, and commercial real estate. We respond in 24 hours or less if you qualify for an option.
The documents you'll be asked for
- Recent business bank statements
- Your most recent business tax return
- Personal ID and your business registration documents (LLC/corporation and EIN)
- For equipment financing: the equipment invoice or quote
What if I don't qualify yet?
That's where many good businesses are: they haven't been operating long enough, sales haven't reached $7,000 a month yet, or their bookkeeping isn't organized enough to prove their income. That's why we work on funding readiness: we organize your bookkeeping month by month so your numbers speak for you, and when your business meets the requirements, we submit your application. No shortcuts and no false promises — financing is subject to each lender's requirements, approval, and terms.
Frequently asked questions
Can I qualify if my business is new?
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With less than 6 months in business, most lenders won't approve yet. What you can do starting now is organize your bookkeeping and accounts so you qualify as soon as you reach 6 months.
Do I need a Social Security number for a business loan?
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It depends on the lender. Many business owners with an ITIN build their business and credit step by step; we guide you on which options may apply in your case.
How much can I request?
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With the base requirements, options range from $5,000 to $3,500,000 depending on the product and your business's strength. Lines of credit range from $5,000 to $100,000.
How fast is the response?
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We respond in 24 hours or less if your business qualifies for one of the options we connect.
Do they check my personal credit or my business credit?
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Both, but for a new or small business your personal credit matters most, because your business doesn't have its own track record yet. That's why we ask for a score of 600 or higher to start.
Can I use the loan for anything I want?
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It depends on the type of loan. Some are flexible, for your business expenses; others are only for one specific thing, like buying equipment. Before you apply, we explain what each one is for.
Where can I apply for a loan for my business?
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You can start right here: take the quick "Do I qualify for funding?" quiz on our Loans page or message us on WhatsApp at 857-919-5069. We review your case, tell you if you qualify, and respond in 24 hours or less. No bank lines, no obligation.
Want to know if you qualify? Take our quick 'Do I qualify for funding?' quiz on the Loans page or message us on WhatsApp at 857-919-5069.