As you look at your options, consider the terms and conditions offered by individual lenders. Some may insist that you are based in the US and have been in business for a certain number of months or years. You will typically need a business checking account and, as mentioned, a comparatively acceptable personal FICO score.
Only apply for those credit lines if you meet the minimum requirements specified. Otherwise, you may simply waste your time and add to the frustration.
With Lendzero, applying for a Business Line of Credit is easy.
Step 1: Click on the Get Approved button above and answer a few basic questions about your business, project or need. We will inform you about your best options and how many exist (this will set your expectations).
Step 2: After this is complete, you will be asked to create a username and password to begin your electronic loan application. This process normally takes about 6 – 7 minutes (if you have all your documents easily accessible and ready).
To complete the loan application, here is what you will need to have handy:
- Business TAX ID (federal tax id number, aka EIN/FEIN)
- Estimated business revenue and average bank balances
- Social security number for all applicants
- Last 3 months of business bank statements (download the PDF statements from your business bank account)
Step 3: Once the application process is complete, we will send you the completed application for you to review and sign. Once you have signed for your application and uploaded the necessary documents, the process is complete. You have officially applied and started your journey to receiving pre-negotiated business lines of credit offers. Your Lendzero funding specialist will reach out to you to guide you through the remaining steps of the process, and provide the necessary guidance and support needed with the goal of successfully obtaining the proper loan.