Factor 1 — Credit profile
What is your personal credit score range?
Lenders use your personal score as a proxy for financial responsibility — especially for businesses under 5 years old.
Factor 2 — Monthly revenue
What is your average monthly revenue?
Revenue consistency and documented deposits can matter alongside the monthly amount. Individual provider requirements vary.
Factor 3 — Cash flow
After all monthly expenses, what’s left over?
Providers often review whether business income can reasonably support existing obligations and future repayment.
Factor 4 — Time in business
How long has your business been operating?
Operating history can affect which funding options a provider may review. More established businesses may have a wider range of options.
Factor 5 — Existing debt
How much existing business debt do you carry?
Existing loan payments and other obligations can affect repayment capacity. Keeping a clear debt schedule can help you prepare.
Factor 6 — Collateral
Do you have assets that could serve as collateral?
Equipment, real estate, receivables, and inventory may be relevant to some funding options. Other providers evaluate different criteria.
Factor 7 — Documentation
How prepared is your financial documentation?
Incomplete or inconsistent records can slow a review. Organized, current documents can help you prepare for provider requests.
Factor 8 — Industry risk
Which best describes your business type?
Industry and business model can affect which funding options a provider reviews. Requirements may vary by provider and product.
Final readiness check
Does your business currently use an active, dedicated business checking account?
Many providers review business-account activity to understand revenue and expenses. This is a readiness check for the current referral path, not a universal rule for every provider.
NYC business funding readiness guide
What to Prepare Before You Explore Business Funding
The Scorecard gives you a practical snapshot of your current readiness. The guidance below explains common preparation areas for businesses exploring funding through Business Loans NYC’s current referral path. Providers may use different requirements and make every final decision independently.
Do I need a business checking account to seek business funding in NYC?
Many providers review business-account activity to understand revenue, deposits, and expenses. A dedicated business checking account can make it easier to document operating activity and separate business finances from personal finances. Business Loans NYC’s current referral path generally works best for businesses with an active business checking account, though individual provider requirements can vary.
How much monthly revenue does a business usually need before exploring funding options?
Revenue amount, consistency, and the pattern of deposits can all affect the options a provider may review. The current referral path generally works best for businesses with about $15,000 or more in monthly revenue. A lower-revenue business can still use this Scorecard to identify what to strengthen before it seeks funding; this is not a universal threshold for every provider.
Can a NYC business seek funding after six months in business?
Some providers may consider businesses with at least six months of operating history, while a longer track record can broaden the types of options available. Keep business records, bank activity, and revenue documentation organized from the start. Every provider applies its own product and eligibility standards.
What documents do lenders commonly review for business funding?
Depending on the provider and funding type, requested documents can include business bank statements, identification, entity documents, tax returns or financial statements, a profit-and-loss statement, and a list of existing obligations. Prepare current, consistent records and be ready to explain the purpose of funding. Requirements vary by provider.
Can existing business debt affect funding options?
Existing debt payments can affect the cash flow available to support another obligation. Maintain a clear debt schedule showing balances, payments, and payoff timing. Reducing or organizing existing obligations may improve readiness, but it does not guarantee an approval or a particular offer.
What is the difference between a business loan, line of credit, and revenue-based funding?
A business loan generally provides a lump sum that is repaid on a set schedule. A line of credit offers access to a revolving amount that may be drawn as needed. Revenue-based funding commonly bases payment structure on business revenue or receivables. Product availability, pricing, repayment terms, and suitability vary by provider and business profile.
Business Loans NYC is not a direct lender. We connect business owners with a network of third-party funding providers. Loan terms, rates, approval decisions, and funding amounts are determined solely by individual lenders. APRs and factor rates vary by product, lender, and borrower profile. This tool is for informational purposes only and does not constitute a loan offer or guarantee of funding. | Business Loans NYC • 244 5th Ave, STE R281, New York, NY 10001
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