Resource

Business Loan Readiness Checklist

Assess your readiness before applying for a business loan. Check all boxes for best approval odds.

  • Credit score 600+ (personal)
  • 6+ months in business
  • $10k+/month revenue
  • Business bank account with consistent deposits
  • All required documents ready (bank statements, tax returns, business docs)
  • Clear use-of-funds plan
  • No active bankruptcies or tax liens
  • Positive cash flow or improving trend
  • Business in good standing (no judgments/liens)
  • Personal guarantee prepared (if required)

Credit & Financial Health

  • Personal credit score 600+
  • Business credit established (if applicable)
  • No active bankruptcies
  • Positive cash flow or improving trend

Business Requirements

  • 6+ months in business
  • $10,000+ monthly revenue
  • Business bank account with consistent deposits
  • Business in good standing

Required Documents

  • 3–6 months business bank statements
  • Business formation documents
  • Personal ID
  • Voided business check
  • Tax returns (if required for larger loans)
  • Financial statements (if required)

Preparation & Planning

  • Clear use-of-funds plan
  • Personal guarantee prepared (if required)
  • Researched lenders and loan types
  • Calculated affordable loan amount

Readiness Assessment

  • Ready to Apply (15+ checks): You meet most requirements. Apply now for best approval odds.
  • Almost Ready (10–14 checks): You're close but missing some requirements. Address missing items before applying.
  • Not Ready (<10 checks): You need to address several requirements before applying. Focus on credit, revenue, and documents first.

Ready to get funded?

Apply once and get a clear funding offer in 24–72 hours — no hard credit pull to pre-qualify.

Apply Now — It's Free →