What it is
Eligible invoices or stock set the borrowing base. Old invoices and obsolete goods are often left out. It is closer to a line of credit than to a one-time term loan.
What's typically needed
- Latest three months of business bank statements
- Time in business
- A government-issued photo ID
- Basic business details, such as legal name and industry
- A recent aging report or inventory list, if a provider asks later
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Applying has no impact to your credit. Submitting this form does not pull a credit report.
Related: Invoice financing · Inventory