Funding is the most important step for start-up capital and/or expansion of your business. Many times it is hard for an entrepreneur to get a loan from a lender because they don’t have the proper documents, don’t know what banks and lenders are available, or simply don’t qualify. As an individual looking for funding, if you get declined for a loan it would be nearly impossible for you to ask someone else for lending. That’s where the New Jersey Small Business Development Center (SBDC) consultants come in and may help you get prequalified for a loan to be able to get you direct access to capital from our pool of approved lenders.
To determine if you qualify for funding, the following documents are required:
- Personal and Federal Tax Returns for the past 3 years.
- Personal Cash Flow Statements
- SBA Personal Financial Statements
- Bank Statements ( Last 3 months)
- Credit Report with FICO Scores from: Equifax, TransUnion, and Experian. (Note: Minimum FICO Score of 680)