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.
Part of our guide to Business Loans.
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.
See what you could qualify for
Four answers about your business. No credit pull.
How Quordx Capital Works
Rather than reading 50 lender websites, you complete one application in about 10 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.
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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Quordx Capital is a business funding broker, not a lender. Lenders make every credit decision and set the rate, fees and terms, and not every business qualifies. Quordx may be paid by a lender when a deal funds. Full disclosures