What counts as enough history
We ask for about three months of business bank statements. If you are open and depositing, you may have enough to apply. If you are still before opening, there is nothing to evaluate yet, so concentrate on opening the account and running every sale through it.
We do not require tax returns, the credit pull is soft, FICO 500 and above is considered and sole proprietors can apply. Funding runs from $25,000 to $5,000,000 and can be funded in as little as 24 hours after approval. We do not set a minimum revenue number in this page.
A city made of small businesses
The small-business sector accounts for the majority of the business population in Chula Vista and is described as a stable base for the city's economy. The city has also drawn companies partly because of its mix of communities; in 2001 Dai Nippon Printing cited the concentration of ethnic groups and Japanese businesses and services as one reason it opened an office there. A new business therefore enters a crowded, established field of small operators, and the first year usually demands more cash than owners expect: signage, a lease deposit, stock, early staffing.
Build a first-year cash map
- Month 0 to 1. Deposits, permits, fit-out, first inventory.
- Month 2 to 4. Sales build slowly while rent and payroll are fixed.
- Month 5 to 8. Regular customers form; check whether revenue covers costs.
The funding need is the lowest cumulative cash point on this map plus a cushion, not the total cost of the business.
Pitfalls
Avoid commingling personal and business spending, because it muddies statements. Avoid asking for more than the plan needs. Avoid using funding to hide a business that loses money. When the business is earning, working capital and equipment financing are typical next steps.
A first-year example, for illustration only
A new bakery opens near Third Avenue Village. In month one it pays a deposit, buys supplies and has few customers. By month three it has repeat buyers but a rent and a baker to pay. The owner applies once about three months of statements exist, to fund a second oven that lets the bakery serve wholesale accounts. Round figures aside, the order matters: the business proves demand first, and the funding follows to add capacity.
What the application looks like
It takes about five minutes. You enter business details, the amount you want, and attach about three months of business bank statements. A soft credit pull follows. If you are a sole proprietor you apply the same way. Nothing about it requires tax returns, so a first-year business does not need a filed return to begin.
Local context
The San Diego County page and the Chula Vista overview show how the other products connect.