Funding Readiness Checklist

Use this checklist to organize information that lenders may ask about before you explore funding. Completing this checklist does not guarantee funding approval.

• Clarify your funding purpose.
• Organize financial and business records.
• Review personal and business credit awareness.
• Prepare questions for lenders.
• Compare options more carefully.

This resource is for business owners who want to prepare before contacting a lender, using a lender-matching tool, comparing offers, or deciding whether funding is the right next step.

1. Review each section and mark what is ready, incomplete, or not applicable.
2. Gather documents before starting an application.
3. Verify lender requirements directly with each institution or program.
4. Use the comparison worksheets before accepting an offer.
5. Ask qualified professionals for help with legal, tax, financial, or credit questions.

Business Foundation

• Confirm legal business name and structure.
• Confirm EIN or other identification information where applicable.
• Organize business address, phone, email, and website information.

Banking

• Identify business banking accounts.
• Review account history and statements.
• Confirm payment processing and deposit flow.

Financial Records

• Organize bookkeeping records.
• Gather tax returns or financial statements if requested.
• Review revenue, expenses, cash flow, and debt obligations.

Credit Awareness

• Review personal credit awareness where relevant.
• Review business credit information where available.
• Understand that credit criteria vary by lender and product.

Documents to Organize

• Business formation documents, where applicable.
• EIN documentation, where applicable.
• Business licenses or permits, where relevant.
• Bank statements if requested.
• Tax returns if requested.
• Financial statements if requested.
• Ownership information if requested.
• Business plan or projections if requested.

Funding Purpose and Repayment

• Clarify why funding is needed.
• Estimate the amount needed.
• Consider repayment ability.
• Identify possible collateral or guarantee questions.

Lender Research

• Compare eligibility requirements.
• Review rates, fees, repayment terms, and restrictions.
• Write down questions before applying.

After reviewing funding readiness, compare actual funding products and institutions side by side before making a decision.