Merchant Cash Advance
Fast capital based on future receivables
- Time in business
- 6+ months
- Min monthly revenue
- $15,000
- Min FICO
- 500
- Bank statements
- 3 months (4 in NY/CA, 6 in Canada)
$5,000 – $2,000,000•Funded in 24 hours
View full MCA details Minimum requirements — USA & Canada
Business loan qualifications — exact minimums for every product
Compare the published time-in-business, revenue, credit score, and document requirements across every Simply Approved Business Loans product. Use this page to find the right fit before you apply, then pre-qualify in 30 seconds with no credit pull.
Last reviewed: by the Simply Approved Business Loans editorial team.
Qualifications by product
Click any product for full details, rates, and process.
Business Term Loan
Fixed-rate financing for major investments
- Time in business
- 12+ months
- Min monthly revenue
- $25,000
- Min FICO
- 600
- Documents
- Application + 3 months bank statements
$25,000 – $5,000,000•Funded in 2–7 days
View full Term Loan details Business Line of Credit
Revolving capital you can draw on demand
- Time in business
- 12+ months
- Min monthly revenue
- $15,000
- Min FICO
- 625
- Documents
- Application + 3 months bank statements
$10,000 – $1,000,000•Approved in 1–3 days
View full Line of Credit details Equipment Financing
Up to 100% financing for the gear you need
- Time in business
- 6+ months (startup programs available)
- Min FICO
- 550
- Down payment
- $0 typical for $1 buyout
- Documents
- App + vendor quote + 3 months bank statements
$10,000 – $5,000,000•Funded in 3–7 days
View full Equipment details SBA Loans
Government-backed loans with the lowest rates (US only)
- Time in business
- 2+ years preferred
- Min FICO
- 680
- Documents
- 3 yrs business + personal tax returns, business plan, debt schedule
- Use of funds
- Real estate, equipment, working capital, acquisitions
$50,000 – $5,000,000•Funded in 30–60 days
View full SBA details Invoice Factoring
Turn unpaid invoices into immediate cash
- Customer credit
- Creditworthy B2B buyers
- Min monthly invoice volume
- $10,000+
- Min FICO
- No minimum (buyer-credit underwriting)
- Documents
- Aging report + sample invoices + customer list
$10,000 – $10,000,000•Funded same day
View full Factoring details Commercial Real Estate Loans
Buy, refinance, or build your business property
- Down payment
- 10% (504), 20–30% (conventional)
- Min FICO
- 660 (504), 680 (conventional)
- Documents
- 3 yrs tax returns, rent roll, appraisal, environmental
- DSCR target
- 1.20–1.35x
$250,000 – $25,000,000•Closes in 30–75 days
View full CRE details Startup Business Funding
Capital for businesses under 2 years old
- Time in business
- 0–24 months OK
- Min FICO
- 680 for stacking; 600 for some equipment
- Documents
- Personal credit + business plan/projections
- Down payment
- Varies by product
$10,000 – $250,000•Funded in 5–14 days
View full Startup details Working Capital Loans
Cover payroll, inventory, and day-to-day expenses
- Time in business
- 6+ months
- Min monthly revenue
- $15,000
- Min FICO
- 500
- Documents
- App + 3 months bank statements (4 NY/CA, 6 Canada)
$5,000 – $1,000,000•Funded in 24 hours
View full Working Capital details Bad Credit Business Loans
Funding when banks say no
- Time in business
- 6+ months
- Min FICO
- 500
- Min monthly revenue
- $25,000
- Documents
- App + 3 months bank statements
$5,000 – $500,000•Funded in 24 hours
View full Bad Credit details Frequently asked questions
What are the baseline qualifications across all products?+
Most products require 6+ months in business, $15,000+ in monthly business deposits, a 500+ FICO score, and 3 months of business bank statements (4 in NY/CA, 6 in Canada). Stronger products like SBA and term loans require 12+ months and 600–680+ FICO.
Do I need collateral to qualify?+
Most working capital products (MCA, LOC, short-term loans) are unsecured. Equipment financing is secured by the equipment. SBA and CRE loans typically require collateral and personal guarantees.
Will checking my qualifications affect my credit?+
No. Pre-qualification is self-reported with no credit pull. A credit inquiry only happens after you start a full application — and the inquiry type (soft or hard) is disclosed before you sign.
Are these minimums a guarantee of approval?+
No. Minimums are the starting point. Every funded file is fully underwritten — bank statement analysis, business verification, debt-service review, and a credit check determine final approval, amount, term, and rate.
Do Canadian businesses qualify?+
Yes. Canadian files require 6 months of business bank statements, a CRA Business Number, and CAD-denominated business banking. Credit and revenue minimums match U.S. equivalents. SBA programs are U.S.-only — Canadian equivalents include BDC and CSBFP.
Get funded in as little as 24 hours
$5,000 to $25,000,000. Free pre-qualification. No upfront fees. Same-day decisions for clean files.