Bank Statement Loans: Video

Introduction

Will Sanio, Smallbusinessloansdepot.com. Today’s topic: How to get a business loan using bank statements. Start the process anytime by tapping apply on the bottom right of the screen or tapping on the end screen of this Video or the button on the Webpage.

Gather Documents

Get the last 3 months statements for your Company. [ water splashing ] Some States like California may require 4 months. Match with a Lender that best fits your business type and monthly deposits. You can often avoid declines by first talking with a Representative.

Apply

Approvals are based mostly on your Company’s total monthly deposits, Average Daily Balances, Time in Business and Credit. [ water gurgling ] Low credit score programs are available. Transfers into the business account may not count such as transfers from Savings accounts.

Closing

If approved, get your closing documents. Copy of your Driver’s License, copy of a Voided Business check, Proof of Ownership may be required. Complete the closing docs and expect funds [ woman laughing ] to be wired into your Account within 2 to 4 hours.