Short answer
Start about three to six months before you apply. Clean up your accounts, gather statements, line up a tax professional and decide on a statement window. Early preparation prevents most delays.
Three to six months out
- Separate business and personal money if they are mixed.
- Stop moving large sums between accounts without a clear reason.
- Pay down credit card balances if you can, and avoid new credit.
- Ask your tax professional whether they can write a letter about your business and how long you have operated it.
One to two months out
- Download every statement for the window you plan to use, with all pages.
- Write a short summary of the business: what it does, who pays you and how long you have done it.
- Collect ownership documents, such as articles and an operating agreement.
- List your monthly debts.
When you start talking to a loan officer
Ask which statement window and which accounts are likely to work, and whether the program uses an expense factor or a third-party letter. Ask how reserves are counted and which property types are eligible.
What not to do
- Do not open a new account or close an old one in the middle of a review.
- Do not deposit cash you cannot trace.
- Do not make large purchases on credit right before closing.
Use the proof guide as the final check.
Related
Ready to talk it through?
Apply online or call. A loan officer will review your situation.
Frequently asked questions
How early should I start preparing?
Three to six months is a comfortable lead time, though you can apply sooner if your documents are already in order.