what are the qualifications to get a business loan?
491301
['Credit score. Lenders typically examine your personal credit report when you apply. ... ', 'Age of your business. ... ', 'Annual revenue. ... ', 'Personal debt-to-credit ratio. ... ', 'Net operating income. ... ', 'Potential collateral.']
1379200
['Job offer letter;', 'Most recent T4 summary & most recent tax return;', 'Business license/permit;', 'Commercial lease agreement for place of business; and,', 'Proof of advertising or recruitment for the intended position to date.']
1443528
Term loans can be difficult to get if you haven't been in business for very long, especially if you're trying to apply with a traditional commercial lender. To get favorable terms, you typically need to be in business for at least a year or two, or sometimes more, have a good credit score, and maintain strong revenues.
724968
The reality is that qualifying for an SBA loan is extremely hard—if only because lenders can set their eligibility requirements high, lending only to the best candidates. Plus, the application process for an SBA loan is longer, requires more documentation, and is more involved than with any other loan.
193632
['Two forms of ID, including a photo form such as a passport, for the individual opening the account.', 'A valid bank mandate form, confirming that you have the authority to open an account on behalf of the business.']
797190
['Your Companies House registration number (if you have one)', 'Details about your business, including tax information, turnover and other capital.', 'Details of all directors or partners, including name, date of birth, address and National Insurance number.']
1085531
['Create a LLC or Corporation. ... ', 'Register Your Business Name. ... ', 'Apply for a Federal Tax ID Number. ... ', 'Determine If You Need a State Tax ID Number. ... ', 'Obtain Business Permits and Licenses. ... ', 'Protect Your Business with Insurance. ... ', 'Open a Business Bank Account.']
1460104
['Capital. You will definitely need some form of money to invest in order to start up a business or company. ... ', 'Business Plan. ... ', 'Operating Permit. ... ', 'Space (Premises) ... ', 'Goods and Services. ... ', 'Read more.']
259753
["Valid driver's license.", 'Insurance card.', 'Any trade documents (title, registration, or loan release)', 'Last two recent pay stubs (from every job you have, if you have more than one)', 'Proof of residency (this could be, for example, in the form of a utility bill)']
1362284
['are self-employed.', 'are a company director (but not if you are a director of a not-for-profit company)', 'have rental or other income from property (unless it is less than a certain amount and can be dealt with through a PAYE tax code)']
1189666
['Valid and official forms of identification.', 'Social Security Number or Employer Identification Number.', 'Legal document identifying the structure of the business and/or the name of the business.']
1453509
["Your business's Tax Identification Number.", 'A valid e-mail address if applying online.', 'Access to a printer if applying online (optional)']
1205479
A minimum credit score of 600 is required, along with a minimum credit history of three years. The debt-to-income ratio must be less than 40% for single applications and 35% for joint applicants. You can apply for a loan on the organization's web site —www.LendingClub.com.
540604
Getting a Small Business Loan is Difficult. Unfortunately, financial institutions are notoriously reluctant to lend to small businesses - according to a recent survey by on-deck of over 10,000 business loan applicants in the U.S. 82% were denied financing by their bank.
131405
["Employer Identification Number (EIN) (or a Social Security number, if you're a sole proprietorship)", "Your business's formation documents.", 'Ownership agreements.', 'Business license.']
263025
['Business License. A business license is required in order to open and operate any business in the United States. ... ', 'Employer Identification Number (EIN) ... ', 'Certificate of Occupancy. ... ', 'Food Service License. ... ', 'Sign Permit. ... ', 'Music License. ... ', 'Resale Permit. ... ', 'Building Health Permit.']
1324288
["Bachelor's Degree in Business, Management, or related field.", 'More education or experience may be preferred or required.', 'Strong understanding of business management, financial, and leadership principles.', 'Excellent communication, interpersonal, leadership, coaching, and conflict resolution skills.']