New LLC and Need Funding? Know What Can Be Available Before You Have 12 Months of Revenue

Newly formed businesses often discover that traditional business loans require operating history and established revenue. That does not mean every financing category requires two years in business.

Can a New LLC Get a Business Credit Card?

Business credit cards are typically among the easier business financing categories to qualify for. Strong personal credit is especially important, with approximately 740+ commonly associated with stronger profiles.

Some issuers may consider new businesses or side businesses without established business revenue when the owner’s personal credit is strong. A registered business, Social Security Number and personal guarantee are commonly part of qualification, while an EIN may be required or recommended.

What Happens After Six to Twelve Months in Business?

Additional financing categories may begin to become relevant. Working capital financing commonly considers approximately six to twelve months in business, around 600+ personal credit and roughly $50,000 to $100,000 in annual revenue.

Online or alternative small-business lenders may also consider businesses with approximately six to twelve months of history, credit around 600 to 680+ and sufficient consistent revenue and deposits.

What Should a New Business Build Before Applying?

Maintain a dedicated business bank account, track deposits, keep business registration information organized, monitor personal credit and clearly document revenue as the company grows. Building these fundamentals can expand future funding options.

If you recently formed an LLC and need capital for startup or early operating expenses, connect with EIN Business Funding to explore which financing categories may fit your current stage.

FAQs

Can a brand-new LLC qualify for business funding?
Potentially. Business credit cards may be available to some new businesses when the owner’s personal credit is strong, while other products generally require more operating history and revenue.

What credit score is commonly associated with strong business credit card eligibility?
Approximately 740+ personal credit is commonly associated with stronger business credit card profiles.

What funding may become available after six to twelve months?
Working capital and some online or alternative small-business loans may begin to become relevant when the business also meets applicable credit, revenue and deposit requirements.