What do I need to qualify for a business loan?
To qualify for a business loan, you need three things lenders can verify: time in business, revenue, and a credit profile, plus the documents to prove them. The thresholds vary wildly by lender: a bank may require 2+ years and excellent credit, while alternative lenders approve businesses with 3-6 months of operating history, around $10K+ in monthly revenue, and scores as low as 500-550. Guessing at requirements leads to declines that waste time and dent confidence. Quordx Capital removes the guesswork by matching your actual profile to lenders whose criteria you already meet.
This guide is part of our full library on Business Loans. Start there for the complete lineup, then come back for the deep dive on your situation.
Last updated · Reviewed by Cody Dreis
50+ Lenders|Funding in as little as 24 hours
The Qualification Checklist, Lender by Lender
Time in business: Banks and SBA lenders: typically 2+ years for the strongest approvals. Alternative lenders: 3-6 months is often enough.
Revenue: Most alternative lenders want roughly $10K+ per month in verifiable deposits. Bigger loans require revenue that covers the payment with room to spare: lenders check your bank statements line by line.
Credit score: SBA 7(a): most lenders look for 650+ (smaller 7(a) loans use an SBSS score of 165+). Bank loans: similar or higher. Revenue-based products: ~500-550 and up.
Documents: Plan on 3-6 months of business bank statements, your most recent business tax return, a government-issued ID, business entity documents, and a voided business check. Larger and SBA deals add a P&L and balance sheet.
Meet the alternative-lender bar and you have options this week. Meet the bank bar and you have cheaper options worth a longer process.
Products Matched to Where You Qualify
Working capital loans: $5K-$500K with the lightest requirements. Best for newer businesses with real revenue.
Business term loans: $10K-$500K+ over 1-5 years. Best for established businesses wanting predictable fixed payments.
Business lines of credit: $10K-$250K+ revolving credit. Best if you qualify and want capital on standby rather than a lump sum.
SBA loans: up to $5M at roughly 10.5%-14% variable on 7(a) today. Best if you have 2+ years, 650+ credit, and patience for the lowest cost.
How Quordx Capital Works
Rather than reading 50 lender websites, you complete one application in about 5 minutes and upload your documents through our secure, SOC 2 compliant platform. The AI maps your time in business, revenue, and credit against 50+ vetted lenders and returns 3-7 matches ranked by approval probability. Decisions typically arrive within 24-48 hours; funding follows in 3-7 business days.
What to Expect
Worried you fall short somewhere? Most businesses qualify for more than they think, just not always at the price they hoped, and we'll show you the honest trade-offs. If you truly don't qualify yet, you'll hear that plainly, along with what to fix. Checking costs nothing: no fees to you ever, and no obligation to take any offer.
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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.
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