Guide · 4 min read
What to have ready before you apply
The documents and information that make an application complete, and why each one matters.
A complete application is the fastest path to a decision. Most of what is needed is information your business already keeps. Not every item applies to every business, but having these ready avoids back and forth later.
About your business
- Legal name, formation documents and ownership details
- Federal tax identification number
- Business bank account details for funding
- Identification for the owners and authorized signers
These confirm who you are and who is authorized to act for the business. Identity verification is a standard part of opening any financial relationship.
Your receivables and customers
- A current accounts receivable aging report
- A customer list with payment terms
- Sample invoices and the documents that support them, such as proof of delivery or approved timesheets
For factoring and asset based lending, the receivables are central to the decision. An aging report shows how much is owed, by whom and for how long.
Your financial picture
- Recent financial statements
- Recent business tax returns
- Recent business bank statements
These show how the business performs over time and help size a facility appropriately.
Existing financing
- Details of current lenders, loans and lines of credit
- Any liens on business assets
- Tax payment status
Existing liens and obligations affect how a new facility is structured. Sharing them early prevents surprises at closing.
Industry specific items
Some industries have documents of their own: rate confirmations and bills of lading in transportation, timesheets and payroll tax filings in staffing, payer mix and claims history in healthcare, and contracts or task orders for government work.
Send documents the secure way
Upload documents through the secure application or your client account. Avoid sending financial documents as email attachments.