Under a year in business: which file can be presented?
A business under a year old can be presented to commercial lenders once its account shows a few months of deposits. Each lender sets its own time-in-business threshold and decides alone.
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- Can a business under a year old present a file?
- Yes, the file can be presented once the business account shows a few months of deposits. Lenders usually ask for a minimum banking history, and each sets its own.
- Which financing can be presented earliest?
- Factoring, if you invoice other businesses: the lender looks first at your clients and your invoices. Revenue-based financing and equipment financing usually ask for more history, and a line of credit for more still.
- What does the lender read when the history is short?
- The actual deposits in the business account, month by month, and how regular they are. A short history leaves it fewer months to read, and it weighs that in its written offer.
- My business has just opened: what now?
- With very little banking history, lenders usually say no. Talk to us: we look at your situation with you, or at when to come back.
- Request a call
What the lender looks at
- How long the business has been operating
- Each product has its usual threshold; the lender sets its own.
- Actual deposits, month by month
- With few months to read, each month weighs more.
- Trend over the period
- Deposits that have climbed since opening show in the statements.
- NSF cheques
- A returned cheque weighs heavily on a short history.
$0 upfront · 7% only if funded
An intermediary, not a lender.
The lender sets the final amount and its cost in its written offer.
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