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Business Loan Requirements: What Lenders Check and the Documents You Need

The thresholds by lender type and the complete document list, so you apply once.

LoansUpdated November 2026Reviewed by the Loanistry editorial teamHow we rateHow we make money6 min read
In short

Business loan requirements vary by lender type. Banks and SBA lenders typically require a 650+ personal credit score, two years in business, positive cash flow and full financial statements. Online lenders require 600+ credit, six to twelve months in business, $100,000 or more in annual revenue and three to six months of bank statements. All lenders require a business bank account, an EIN, and usually a personal guarantee.

Key takeaways

  • Three screening numbers: credit score, time in business, revenue.
  • Online lenders want bank statements; banks want tax returns and financials.
  • A personal guarantee is standard for small business debt.
  • Clean bank statements matter more than most owners realize.

Requirements by lender type

Lender typeCredit scoreTime in businessRevenueSpeed
Bank680+2+ yearsPositive cash flow, often $250K+2 to 6 weeks
SBA lender650+2+ years (startups with equity)Cash flow covers payment30 to 90 days
Online lender600 to 625+6 to 12 months$100K+ annual1 to 3 days
CDFI / nonprofit600+12 months$50K+ annual1 to 2 weeks
Revenue-based / MCA500 to 570+6 months$15K+ monthlySame day
FactoringCustomers' creditNone$30K+ monthly invoices1 to 2 days after setup

The document checklist

  • Government ID for all owners of 20% or more
  • EIN confirmation letter and formation documents (articles, operating agreement)
  • Business licenses and permits
  • Three to twelve months of business bank statements
  • Two to three years of business and personal tax returns (banks, SBA)
  • Year-to-date P&L and balance sheet
  • Business debt schedule
  • Accounts receivable and payable aging (factoring, larger loans)
  • Use-of-funds statement or business plan (SBA, startups)
  • Collateral documentation if applicable

What underwriters read in your bank statements

Average daily balance, number of deposits per month, NSF and overdraft occurrences, negative-balance days, and existing loan debits. Three months with no overdrafts and consistent deposits is worth more than a strong tax return from last year. If you have NSFs in the last 90 days, waiting until they age off the statement window will improve your offers.

Personal guarantees and liens

Nearly every small business loan requires owners to personally guarantee repayment. Online lenders also file a UCC lien on business assets. Neither is unusual, but both mean a default follows you. Read the guarantee for confession-of-judgment clauses, which some states still allow and which let a lender obtain a judgment without a trial.

Frequently asked questions

Do I need a business plan for a loan?
Banks and SBA lenders usually want one, especially for startups and larger amounts. Online lenders do not.
Can I get a business loan with an EIN only?
Not without a personal credit check and guarantee. Vendor credit and some corporate cards are the EIN-only options, and they build business credit toward larger EIN-based financing later.
Do lenders check business credit?
Banks and larger lenders check Dun & Bradstreet, Experian Business and Equifax Business. A thin or missing business file does not disqualify you but a strong one improves terms.

Keep reading

How to get a business loan
GuideHow to build business credit
GuideBest Business Checking Accounts of November 2026
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