Operating for 3–6 months with consistent monthly revenue and regular card sales? A merchant cash advance may have more flexible qualification standards, but it is generally among the more expensive funding options.
Seeking a traditional business line of credit? Typical benchmarks include 720+ personal credit, 1–2 years in business, $100K–$250K+ annual revenue, positive cash flow and established business banking.
Need business capital soon? Prepare your entity details, EIN, ownership, revenue, banking, Experian FICO score, existing debt and exact use of funds before you start the funding process.
Have a personal credit score around 650 and need business capital? Online loans, term loans and working-capital products may use lower credit benchmarks than traditional bank lines of credit.
Actively buying a business and expecting to need financing? Prepare your credit, revenue, banking, debt, ownership and use-of-funds information before lender conversations begin.
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.
