What funding partners usually look for.
Every funding partner sets its own requirements, and they vary by product. These are the factors that come up most often, so you know where you stand before you call.
Full Port Financial is not a lender. Financing is provided by third-party funding partners.
How a funding partner reads your file
| Factor | Why it matters | Tip |
|---|---|---|
| Time in business | Operating history is one of the strongest signals a funding partner has. Banks usually look for the longest track record; many online funders work with younger businesses. | Know your business start date as it appears on your formation documents. |
| Monthly revenue | Partners want to see that your business brings in enough, consistently, to carry the payments comfortably. | Revenue that is deposited into a business bank account is the easiest to verify. |
| Credit history | Most partners review the owner's personal credit and, where it exists, the business's credit. How much it matters varies a lot by product. | A rough idea of your score is enough for the first conversation. We don't pull credit. |
| Bank account activity | Partners read bank statements for steady deposits, healthy daily balances and few overdrafts or returned payments. | Frequent negative balances are one of the most common reasons files are declined. |
| Existing debt and advances | Current loan or advance payments reduce how much new funding your cash flow can support. | List every current loan and advance, with its payment amount and frequency. |
| Industry and use of funds | Some partners specialize in certain industries, and some exclude others. A clear use of funds helps match you to the right product. | See our restricted industries list before you call. |
What to have ready
You don't need any of these for the first call. Having them ready later speeds up a funding partner's review.
- Three to four recent months of business bank statements
- A government-issued photo ID for each owner
- A voided business check or bank letter
- Your business's legal name, entity type, EIN and start date
- For larger requests: business tax returns and a year-to-date profit and loss statement
- For equipment: the seller's quote with make, model and year
Small steps that make a real difference
- Run revenue through one business account. Deposits that are easy to see are easy to verify.
- Avoid overdrafts in the months before you apply. Partners read recent statements closely.
- Know your numbers. Typical monthly revenue, current debt payments and exactly what the money is for.
- Be cautious about stacking. Adding a new advance on top of existing ones can make every option harder to get.
Wondering whether your industry is a fit? See the restricted industries list.
Questions, answered.
What credit score do I need for business funding?
There is no single minimum. Requirements depend on the product and the funding partner. Banks and lines of credit tend to require stronger credit; equipment financing and revenue-based financing often weigh other factors more heavily.
Can a new business qualify?
It is harder, because most funding partners rely on operating history and bank statements. Some newer businesses qualify for equipment financing, where the equipment secures the financing. Call and we will tell you honestly what may fit.
Do I need collateral?
Not always. Some products are secured by assets such as equipment, receivables or real estate. Many unsecured products ask owners for a personal guarantee instead.
Will checking whether I qualify affect my credit?
Talking with Full Port Financial does not affect your credit, because we do not pull credit reports. A funding partner may review your credit later as part of its own review, with your permission.
What if I don't meet these requirements yet?
Call anyway. Your advisor can tell you what would most improve your chances, such as a few more months of steady deposits, and whether any option fits today.
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Your money is one call away.
Tell us about your business and what the money is for. An advisor will walk you through the options that may fit, with no pressure and no obligation.