The short version
You need three things: about three months of business bank statements, a basic picture of your business and a clear reason for the money. We do not require tax returns, and the application uses a soft credit pull. Everything else below is about doing those three things well.
Checklist by step
1. Gather your bank statements
Download the most recent three months from the account where customers pay you. Use full statements, every page, not screenshots. If you use more than one account, include the main one first.
2. Confirm business details
Have your business name, address, start date, industry and ownership details ready. Make sure they match what your bank and your records show.
3. Know your credit position
We consider FICO 500 and above. A quick look at your own credit report beforehand avoids surprises and lets you spot errors.
4. Decide on the use of funds
One sentence with a number. Funding runs from $25,000 to $5,000,000, so the amount should follow the cost you named.
5. Be ready to explain anything unusual
A slow month, a large one-time deposit or an overdraft all draw questions. A line of explanation up front saves time.
Common mistakes that slow an application
- Sending partial statements with pages missing.
- Using a personal account that mixes business income with household spending, without explaining it.
- Entering a business name that differs from your bank records.
- Asking for an amount with no stated purpose.
- Applying with the wrong contact details, so follow-ups never reach you.
If you are a sole proprietor
Sole proprietors can apply. The same checklist applies. A separate business checking account makes your statements easier to read, though it is not mandatory.
How to read your own statements first
Before you submit anything, open each month's statement and read it as a stranger would. Highlight the largest deposits and ask what each one is. Count the days the balance fell below your normal payroll. Note any recurring withdrawal to another financing company. If a stranger could find two or three questions in a month, write the answers in a few plain sentences ahead of time.
This takes ten minutes and often reveals a problem you can fix, like a duplicate subscription or a deposit that went to the wrong account. It also makes you more confident in explaining the numbers on your own application.
A quick readiness self-check
| Question | If the answer is no |
|---|---|
| Do I have three months of statements? | Download them from online banking first |
| Do I know what the money is for? | Write the one-sentence plan |
| Can I carry payments in my slowest month? | Lower the amount |
| Are my contact details current? | Fix them before applying |
When the answers are yes, start your application. Funding can arrive in as little as 24 hours.
What happens after you submit
The application is about five minutes. The credit check is soft. If you are reviewed and an offer is made, you will see the terms in writing. Take time to read them. Compare against any other offers. If you accept, funding can arrive in as little as 24 hours. If anything in the documents is unclear, ask before you sign, and keep copies of everything for your records.