How Do You Qualify for a Business Loan?
You qualify for a business loan by meeting a lender's minimums on four things: credit score, monthly revenue, time in business, and documentation. The catch is that those minimums vary wildly by lender. Banks generally want a 680+ personal score, two or more years in business, and strong financials. Online lenders will fund scores down to the 500s and businesses as young as six months, provided the bank deposits are consistent.
Last updated · Reviewed by Cody Dreis
50+ Lenders|Funding in as little as 24 hours
The Full Answer
Here is what most lenders check, in order of weight. Revenue: consistent monthly deposits, with some lenders funding at $10K a month and others requiring $50K+. Credit: your personal FICO, since most small business loans carry a personal guarantee. Time in business: 3–6 months for revenue-based products, 2+ years for banks and SBA loans. Documents: 3–6 months of bank statements, your most recent business tax return, and ID.
You don't need to hit every mark. Strong deposits can offset a bruised score, and collateral can offset a short track record. The real work is finding the lender whose criteria fit your numbers.
How Quordx Helps
That matching is exactly what Quordx does. One application, about 10 minutes online, and Quordx routes your profile to the 3–7 best-fit lenders in a network of 50+. Decisions typically come back in 24–48 hours, and borrowers never pay Quordx a fee.
See which lenders your business qualifies with: one free application, no obligation.
Apply for Funding
No obligation · Initial inquiry doesn't impact credit · Takes about 10 minutes
Written by
Cody Dreis
Founder, Quordx Capital
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Important Disclosures
Quordx Capital is a business funding broker, not a lender. We facilitate introductions between U.S. small and medium-sized businesses and lenders or capital providers in our network. All credit decisions, funding amounts, rates, fees, repayment terms, and timelines are determined solely by individual lenders based on their own underwriting criteria.
Funding figures and timelines shown on this page are illustrative and represent ranges within our lender network, they are not guarantees and individual outcomes may vary based on business profile, industry, time in business, revenue, credit history, and lender availability. Not all applicants qualify for every product.
The initial inquiry does not impact your personal credit score. Some lenders may perform a hard credit pull during underwriting; Quordx only authorizes such checks with your specific consent for the lender presenting an offer. Applicants are protected under the Equal Credit Opportunity Act (ECOA) from discrimination based on race, color, religion, national origin, sex, marital status, age, or because all or part of an applicant's income derives from any public-assistance program.
This Site is intended for commercial, business-purpose financing for U.S. businesses only. Not available for consumer loans, residential mortgages, or owner-occupied real estate. Quordx may receive compensation from lenders when applications result in funded transactions. This does not change the rate, fee, or terms offered to you. See our Advertiser Disclosure for details.
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