Documents to Prepare when Applying for Business Funding
Fact: No one likes the tedious process of gathering documents.
However, when you apply for business funding with most financial institutions, you’re expected to jump through hoops to prove your business is credible. In most cases, you’ll likely need to supply upwards of 20 documents, many of which have nothing to do with your validity as a business or your bottom line, just to be approved or disapproved. Why all the hassle when all that truly matters is your ability to pay back the funding amount?
That's why we only ask you to provide the documents we deem absolutely essential to prove credibility and your ability to repay. Continue reading to learn the FOUR documents you need to gather up before submitting your application with us:
1. Driver's license or government-issued photo ID.
For legal reasons, we need to see a government-issued ID. This helps us speed along our internal process, conduct background checks, etc.
2. Business license/proof of ownership.
We need to know that your business is real and is legally filed as such. We also need to know that you are the owner [or one of the owners] of the business and have the ability and the right to take out funding in its name.
3. Last three (3) months of bank statements (and credit card processing statements, if available).
Your last three months of bank statements help us calculate the funding amount we're able to offer you. We can potentially increase your offer if you do strong credit card sales, so it's helpful when you share your credit card processing statements, too. Please note that credit card statements are not necessary and will not be used against you. We're not here to judge past difficulties, and we don't need to know what your finances looked like years ago — all we care about is your current financial situation.
4. A voided check.
We'll need to take a look at your routing and account numbers to verify that you're using a valid business checking account. We also need this info to wire your funds and accept your payments from the correct account.
That's it! Those are all the documents you will need to have ready when you apply for funding with us. We may ask for a few more things as needed once you're approved, but we guarantee that our process is low-lift, efficient, and FAST. We regularly fund businesses in as little as 24 hours.
Seeking funding for your business shouldn't have to be disheartening. We want to make the process as simple as possible to allow our applicants more time to focus on the things that really matter.
When you select us as your funding provider, you are placing a safe bet on your financial future. We want to see our merchants succeed, and we will do everything in our power to work with you on your specific needs. We know small business, and we’re here to help.
If you need funding and wish to speak to someone now, please call us at 888-382-3945 or click here to send us an inquiry. One of our teammates will get back to you as soon as they are available.