What providers look at—and how to prepare

What a provider is trying to understand

Requirements vary. There is no single revenue amount, credit score, or time-in-business rule that qualifies every business for every product. A provider generally wants to understand the purpose, your business history, and how repayment would work.

Credit history can inform how a provider assesses risk. Financial projections show assumptions about future income and expenses; collateral may support an obligation. Ask each provider about its actual standards. SBA’s Lender Match preparation checklist outlines common questions, not universal approval rules.

Gather records before an application

Depending on the provider and product, a later application may request bank statements, tax returns, identification, financial statements, or equipment quotes. Ask for a specific list rather than guessing a required number of months.

A profit-and-loss statement summarizes income and expenses over a period. A balance sheet shows assets, debts, and ownership value at a point in time. Accurate, current records are more useful than an optimistic sales pitch.

If your business is new

A pre-launch business may have little operating history for a provider to assess. Explain the plan, owner investment, expected costs, and the basis for sales estimates. Do not label projected revenue as money you have already earned.

A smaller launch, more time building records, or independent business counseling may be a better next step than immediate borrowing. Preparation can reveal reasons to wait.

Ask about credit checks and information sharing

For personal credit, a soft inquiry generally does not affect scores; a hard inquiry can. Ask the provider which review it uses, whose credit it checks, and when separate authorization is needed. See the CFPB’s explanation of credit inquiries. Do not assume every funding inquiry has the same credit effect.

Cornerstone’s introductory form is not a credit application and does not authorize a credit check. It asks for basic business and contact details. Do not send Social Security numbers, bank account numbers, statements, or identification through it.

If you proceed, confirm the recipient and use the provider’s protected application process for sensitive materials. Keep copies of what you authorize and submit.

Check readiness before checking eligibility

Can you explain how much you need, why, and how payments will be covered? If not, begin with a cash-flow sketch. If you have an offer, use the cost comparison guide.

You can also seek independent help from an SBA resource partner. That is an outside resource, not a Cornerstone affiliation.