Most U.S. small businesses can qualify for some form of financing. The specific requirements depend on the product — term loans, equipment financing, and working capital each have slightly different bars. Here is what lenders typically look at.
| Financing type | Business Financing |
|---|---|
| Typical amounts | Term loans $25K–$2M; equipment financing $10K–$500K |
| Decision time | As fast as 24 hours |
| Credit | All credit profiles considered; soft credit pull to start |
| Cost to apply | Zero cost to apply |
| Who we are | A business financing broker. We compare offers from our lender network; we are not a direct lender. |
In detail
Most term loans and working capital products require at least 6 months of operating history. Equipment financing can sometimes be approved with as little as 3 months. Startups under 6 months typically need strong personal credit (680+) and a solid revenue projection.
In detail
Standard term loans typically require $50,000–$100,000 in annual revenue. Working capital and revenue-based financing focus heavily on monthly deposits — lenders want to see consistent cash flow, not just a strong annual number. Three months of bank statements is the most common documentation request.
In detail
Equipment financing typically starts at 580+ FICO. Term loans prefer 620–640+. Revenue-based financing focuses more on monthly revenue than credit score, making it accessible for owners with challenged credit. A personal guarantee is commonly required for businesses under 2 years old.
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Do I qualify?
Most business owners who research this topic are eligible to begin a review. Here is what usually qualifies and what owners should not worry about.
Who qualifies
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Most term loans and working capital products require at least 6 months of operating history, and equipment financing can sometimes be approved with as little as 3 months. Traditional banks usually want two or more years. Consistent monthly deposits matter as much as the number of months.
Yes. Many lenders approve businesses with 6–12 months of operating history, especially for equipment financing or working capital. You will generally need 580+ personal credit and 3 months of bank statements showing consistent deposits.
It does for most products, especially if the business is young. Lenders use it as a proxy for how you handle financial obligations. A score of 600+ opens most doors. Revenue-based financing is the most flexible — some lenders approve from 550+.
The standard package is 3 months of business bank statements, a government-issued ID, and your basic business info (state of incorporation, industry, monthly revenue). Larger loans may also require 2 years of tax returns and financial statements.
Not for most working capital and term loan products. Equipment financing uses the equipment itself as collateral. Larger loans ($500K+) may require a blanket lien on business assets or a personal guarantee.
Written by lendfloCapital Editorial Team · Last updated
lendfloCapital is a business financing broker, not a lender. This page is general information, not financial, legal or tax advice. Rates, amounts and terms depend on the lender and your business.
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