Business Under 12 Months Old and Need Funding? These Options May Still Be Worth Checking

Being less than two years old can make traditional bank financing difficult, but it does not necessarily eliminate every business funding option. The right path depends on how long the company has been operating, current revenue, credit and the consistency of business deposits.

Thomas Abelsen’s funding guide shows that online and alternative small-business loans may consider businesses with approximately six to twelve months in operation. Typical credit ranges can begin around 600 to 680+, while annual revenue requirements may range from approximately $50,000 to $250,000 or more depending on the provider.

Working capital loans can also use shorter operating-history requirements. Common benchmarks include approximately six to twelve months in business, $50,000 to $100,000 in annual revenue and personal credit around 600 or higher.

For even newer businesses, business credit cards may be another category to evaluate when the owner has strong personal credit. The funding guide notes that some issuers may approve new businesses with little or no established business revenue when the owner’s personal credit profile is strong.

If your business is under two years old and you need capital now, contact EIN Business Funding to determine which funding categories may be worth exploring before submitting applications.

FAQs

Can a business under one year old qualify for funding?
Potentially. Some online and working capital providers may consider businesses with approximately six to twelve months of operating history.

What credit range may online business lenders consider?
The funding guide identifies approximately 600 to 680+ as a common range for online or alternative small-business loans.

Can a brand-new business qualify for a business credit card?
Some issuers may consider new businesses with little or no business revenue when the owner’s personal credit profile is strong.

Some alternative funding products may consider businesses with six to twelve months of operating history when revenue and deposits support the request.