The Short Answer
Getting a business loan comes down to seven steps: decide the amount, understand what gets reviewed, choose the product, gather documents, apply, compare offers, and sign. An established business with its paperwork ready can move from application to funded in as little as 24–48 hours.
The preparation matters. According to the Federal Reserve Banks’ 2026 Report on Employer Firms, 42% of applicants received the full amount they sought, 36% received some or most, and 22% received none.
Step 1: Decide How Much And What For
Start with a number tied to a purpose: a $60,000 inventory buy, three months of payroll for a new crew, a $150,000 equipment purchase. A specific use tells you which product fits and keeps you from taking on more than the business needs.
Step 2: Know What Gets Reviewed
For an established company, the review focuses on business performance:
- Time in business (most clients have 1+ year)
- Revenue (most clients have $250,000+ per year)
- Consistency of deposits and daily balances in the business bank account
- Any financing the business is already repaying
More detail: Business Loan Requirements.
Step 3: Choose The Product That Matches The Need
- Need it this week: working capital or revenue-based financing
- Recurring or uneven costs: a business line of credit
- A larger, planned project: a Business Term Loan, up to 3 years
- Lowest long-run cost and time to wait: an SBA loan, up to $5 million
Not sure? The Funding Comparison Tool rates each product for your situation.
Step 4: Gather Your Documents
For most working capital requests you need two things:
- A completed application
- Your most recent three to four months of business bank statements
Larger amounts and SBA loans ask for more, including business tax returns. Personal bank statements do not count. See Bank Statements Lenders Ask For.
Step 5: Apply Once
With RAN Funding you complete one application for our lender network and work with one dedicated specialist from start to finish.
Step 6: Compare Offers On Total Payback
When an offer arrives, look at four things:
- The amount you receive
- The total payback
- The length of the term
- How and how often repayment is collected
The Federal Reserve report found that 60% of businesses that borrowed from online lenders said their actual borrowing costs were higher than they expected. Ask your specialist to walk through the total payback before you sign.
Step 7: Sign And Receive Funds
Once you accept an offer and sign, funds are deposited into your business bank account. Working capital products can fund in as little as 24–48 hours.
What Slows An Application Down
- Missing or incomplete bank statements
- Statements from a personal account instead of a business account
- Frequent negative balances or returned payments
- Applying for an amount far above what revenue supports
See Why Applications Get Declined and, if a bank has already said no, Bank Declined Your Business Loan? What to Do Next.
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Frequently Asked Questions
How long does it take to get a business loan?
From as little as 24–48 hours for working capital to several weeks or more for SBA loans.
What documents do I need?
An application and recent business bank statements for most requests. Larger amounts require more financial documents.
How much can I qualify for?
Offers are sized mainly from revenue. See How Much Funding Can I Qualify For?
Can I get a business loan if a bank turned me down?
Often, yes. Banks are one source among several, and other funders weigh revenue and bank activity differently.
See What Your Business Qualifies For
One application for our lender network, one dedicated specialist. $20,000–$500,000+, funded in as little as 24–48 hours.