Getting approved
What Documents Do I Need to Apply for a Business Loan?
For most fast business funding the list is short: an application, three months of business bank statements, your business details and an ID. This guide covers the core four, what larger amounts, term loans and SBA loans add, how to send each document, and the mistakes that slow a file down.
The Short Answer
For fast business funding, most established businesses need only four things: a short application, the last 3 months of business bank statements as full PDFs (4 months in California, New York and Virginia), basic business details such as the legal name and EIN, and the owner’s photo ID. That is enough to receive offers on most working capital, revenue-based financing and fast business loan files. Larger amounts, business term loans and SBA loans add documents in tiers, which are listed below. Send everything complete on the first submission and the file can be decided within hours.
At a Glance
| Fast funding (most files) | Short application, last 3 months of business bank statements, legal business name and EIN, owner’s photo ID |
|---|---|
| Larger amounts and lines of credit | The above, often with more months of statements and a list of existing balances |
| Business term loans | The above, and sometimes recent business tax returns or year-to-date financials |
| SBA loans | A full package: business and personal tax returns, financial statements, debt schedule and more |
| Not needed for fast funding | A business plan, collateral or tax returns on most programs |
| Built for | Established businesses: most RAN Funding clients have 1+ year in business and $20,000+ in monthly revenue |
| Who we are | RAN Funding is a business financing company. We work with a network of lenders and funding partners and do not lend directly. |
The Core Four: What Every Fast Funding File Needs
- A short application. Business name, address, start date, industry, amount requested and how you will use it. It takes a few minutes online.
- Your last 3 months of business bank statements. Full PDFs downloaded from your bank, every page, from the account your revenue is deposited into. Four months for businesses in California, New York and Virginia. Personal statements do not count.
- Legal business details. The exact legal business name, EIN and address as they appear on the bank account.
- The owner’s photo ID. A driver’s license or passport for each owner on the application.
That is the whole list for most fast files. The reason it is short: these programs are reviewed on your deposits, and the statements show revenue, consistency and cash flow in one place. See how lenders verify your business revenue.
Documents by Product
| Product | Typical documents | Speed |
|---|---|---|
| Working capital loan | The core four | 24–48 hours |
| Revenue-based financing | The core four | 24–48 hours |
| Merchant cash advance | The core four, plus recent card processing statements | Same day to 48 hours |
| Business line of credit | The core four, sometimes more months of statements | 1–3 days |
| Business term loan | The core four, plus possibly recent business tax returns or year-to-date financials | About a week |
| Accounts receivable financing | The core four, plus an accounts receivable aging report and invoices | 2–5 days |
| SBA loan | Business and personal tax returns, financial statements, debt schedule, SBA forms | 30–90 days |
What Larger Amounts Add
As the request grows, reviewers want to see more of the business. For six-figure and larger files, expect to be asked for some of the following:
- More months of bank statements, often six, to show the revenue is consistent rather than one strong quarter.
- A list of existing balances with the lender and remaining amount on each.
- A one-sentence use of funds with a number, such as “$300,000 of materials and labor for a $900,000 contract starting December 1.”
- For the largest amounts, recent business tax returns or year-to-date profit and loss statements.
See a $300,000 business loan and a $1,000,000 business loan for what those files look like.
How to Send Each Document
- Bank statements: download the official PDF statement from your bank’s website. Not screenshots, not a transaction export, not a photo of a printout.
- Every page: including the summary page and any blank pages at the end. Missing pages are the most common reason a file stalls.
- Full months: statement periods, not partial months.
- ID: a clear photo or scan of the front, with all four corners visible.
- Securely: upload through the application or email them to Support@ranfunding.com.
What You Do Not Need for Fast Funding
- A business plan
- Collateral
- Tax returns, on most fast programs. See can you get business funding without tax returns
- Projections or a pitch deck
- Personal bank statements
Document Mistakes That Slow a File Down
- Screenshots or exports instead of official PDF statements
- A statement missing its last page
- Personal statements in place of business statements
- A business name on the application that does not match the bank account
- Leaving out existing balances that will show on the statements anyway
- Sending documents in pieces over several days
Each one adds a round of questions. The fastest way to get approved is a complete file on the first submission.
Who Qualifies
Most RAN Funding clients have 1+ year in business under the current ownership, $20,000+ in monthly revenue deposited into a business bank account, and consistent deposits over the last few months. See the full business loan requirements.
How to Apply
- Apply online. The first step takes about a minute.
- Upload your statements and ID. Your dedicated specialist tells you if anything else is needed for your product and amount, so you are not chasing documents that will not be used.
- Compare offers. Side by side, with no obligation.
- Get funded. Sign, complete a quick verification and receive funds in as little as 24–48 hours.
Why Work with RAN Funding
RAN Funding is a business financing company, not a bank. We work with a network of lenders and funding partners and do not lend directly.
- One application for our lender network and one dedicated specialist. Your documents are prepared once and sent once.
- A file check before it goes out. Your specialist catches missing pages and mismatches before a lender sees them.
- Proven. 10,000+ businesses funded and $500M+ secured for clients, with a 4.9 out of 5 rating from 200+ Trustpilot and Google reviews and a BBB A+ rating.
- Nationwide. We fund established businesses across the United States.
Common Questions
What documents do I need to apply for a business loan?
For fast funding: a short application, your last 3 months of business bank statements (4 months in California, New York and Virginia), your legal business name and EIN, and the owner’s photo ID. Term loans and SBA loans add more.
Do I need tax returns to apply?
Not for most fast programs. Business term loans may ask for recent returns on larger amounts, and SBA loans always do.
Can I send personal bank statements?
No. Business financing is reviewed on the business account your revenue is deposited into.
How many months of bank statements do I need?
Three months for most fast programs, four in California, New York and Virginia. Larger amounts and lines of credit may ask for six.
Do I need a business plan or collateral?
Not for working capital, revenue-based financing or fast business loans.
Is RAN Funding a direct lender?
No. RAN Funding is a business financing company that works with a network of lenders and funding partners. You complete one application and work with one dedicated specialist.
Sources
- 7(a) loans U.S. Small Business Administration
- Small Business Credit Survey Federal Reserve Banks
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.
More on Getting Approved