No business revenue yet? The funding source says some business credit card issuers may consider startups with strong personal credit, while SBA Microloans may also be available to qualifying startups with a business plan and repayment ability.
Strong revenue does not erase existing debt. Funding providers commonly review current obligations, cash flow and debt-service capacity before extending additional business capital.
Purchasing commercial real estate, large equipment or other long-term fixed assets? SBA 504 financing is specifically designed for these uses and commonly involves demonstrated repayment ability and a 10–20% down payment.
Need capital for expansion and have at least one year in business? Term loans commonly look for 600–680+ credit, $100K+ annual revenue and positive cash flow.
Operating for 6–12 months with consistent deposits and $50K+ annual revenue? Online and working-capital lenders may use different qualification standards than traditional banks.
Need financing to buy a business? Before approaching a lender, know your credit score, annual revenue, time in business, cash flow, existing debt, banking relationship and exact use of funds.
