What a young account can and cannot show
A business open for a few months can show deposits, but not a long record. We consider FICO 500 and above and look at about three months of business bank statements, so the first thing to check is whether your account has been open and active long enough. If it is very new, say so. It may limit what is offered, and it is better to learn that early.
Who starts businesses here
Fontana, incorporated in 1913 and named from the Italian word for fountain, now has 208,393 residents per the 2020 census, making it the second-most-populous city in San Bernardino County, according to Wikipedia. A large population on major freeways, with an industrial base, gives new owners several routes in: a mobile mechanic or tire service serving local fleets, a small fabrication or packaging operation, a food truck or counter near work sites, or a home-service business for a growing set of households.
Each of these has a different first-year cash pattern, and the funding that suits one may not suit another.
Three launch patterns
Equipment-first
A welder, a lift or a vehicle comes before the first customer. The purchase is one-time and should pay back through jobs; see equipment financing.
Inventory-first
A parts counter or a retail shop needs stock before it sells anything. Cash goes out weeks before it returns.
Labor-first
A crew business pays people before clients pay invoices. Working capital covers that lag.
A launch budget that can survive reality
- List one-time costs: equipment, deposits, permits, signage.
- List fixed monthly costs: rent, insurance, software, payroll.
- Add a ramp cushion of several months of fixed costs, assuming little revenue.
- Request only what that plan supports.
For a single project, a term loan may fit; if sales will be uneven, see revenue-based financing.
Permits, leases and the first ninety days
Before you ask for funding, list the commitments that begin on day one: lease or yard rental, insurance, any business license or permit your trade needs, and utilities. These start before revenue does. A new owner who budgets only for equipment and stock often discovers that fixed costs consume the first three months of cash. Ask your landlord or supplier what is due at signing and what is due monthly, and build both into the plan. A request that covers the full ninety days is easier to defend than one that covers the purchase alone.
Applying
Funding runs from $25,000 to $5,000,000, with money funded in as little as 24 hours. No tax returns are required, the application takes five minutes and uses a soft credit pull, and sole proprietors can apply. See the Inland Empire overview or start the application.