Business Loan Requirements — What You Need to Qualify
Every loan type has different requirements. Understand exactly what lenders look for — credit, revenue, time in business, documentation, and collateral.
Check What You Qualify For — It's FreeRequirements by Loan Type
Side-by-side comparison of what each loan type requires.
| Loan Type | Min. Credit | Revenue | Time in Business | Collateral |
|---|---|---|---|---|
| Term Loans (Unsecured) | 680+ (all 3 bureaus) | $50,000+ in annual taxable income | No minimum | Not required — unsecured |
| Lines of Credit | 550+ | $8,000+/month | 6+ months | Not required under $250K |
| SBA Loans | 650+ | Varies by program | 2+ years preferred | Required for loans over $25K |
| Revenue Based Funding | 550+ | $5,000+/month | 3+ months | Monthly revenue |
| Invoice Factoring | No minimum (customer credit matters) | Active invoices required | No minimum | Invoices serve as the asset |
How to Strengthen Your Application
Improve Your Credit Score
Pay down credit card balances, dispute errors, and avoid new credit inquiries in the months before applying.
Organize Financial Documents
Have 3–6 months of bank statements, recent tax returns, and a P&L ready before you start.
Reduce Existing Debt
A lower debt-to-income ratio significantly improves approval odds and rates.
Show Consistent Revenue
Lenders want to see stable or growing monthly revenue. Time your application after a strong revenue period.
Have a Clear Use of Funds
Lenders approve faster when you can clearly articulate what the funds will be used for.
Consider Multiple Loan Types
ORP Group compares all loan types to find the best fit for your specific profile.
Loan Requirements FAQs
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