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Getting Funded
Business Loan Requirements: The Complete Checklist
August 15, 2026 7 min read
Requirements vary widely across funding types, and applying to a product you cannot qualify for wastes time and leaves a trail of inquiries.
Here is what each category actually requires, so you can aim at the right target from the start.
Revenue-based and short-term working capital
- $15,000+ in monthly revenue
- Six months or more in business
- FICO around 525 and above
- A business bank account with consistent deposits
- Limited negative balance days over the review period
Term loans and lines of credit
- Two or more years in business
- Mid-600s personal credit or better for competitive pricing
- Documented financial statements and business tax returns
- Debt service coverage ratio above about 1.25
- Few or no existing short-term positions
SBA financing
- Two years of business and personal tax returns
- Year-to-date P&L and balance sheet
- Personal financial statement and debt schedule
- Demonstrated repayment ability from cash flow
- No delinquency on existing federal debt
Equipment financing and factoring
Equipment financing leans on the asset, so requirements are lighter: an equipment quote, reasonable credit and evidence you can carry the payment. Factoring leans on your customers, so their credit quality matters more than yours.
These two products are frequently the most accessible routes for businesses that fall short of term-loan standards.
Documents worth having ready regardless
- Six months of PDF business bank statements
- Driver's license and voided business check
- EIN letter and formation documents
- AR aging report if you invoice customers
- A written use-of-funds summary
Frequently asked questions
- What is the minimum credit score to get funded?
- Revenue-based options commonly start around 525. Bank and SBA products generally want mid-600s or higher.
- Does a startup under six months have options?
- Limited ones. Equipment financing, business credit cards and SBA microloans are the realistic paths before deposit history exists.
- How much revenue do I need?
- For most fast-funding products, around $15,000 a month in consistent deposits is the practical floor.