Documents
Nobody funds a business on nothing. What "no doc" really means is no tax returns and no financial statements — your bank deposits do the talking instead.
✓ Checking what you qualify for does not affect your credit score.
It is a comparison, not a literal claim. A bank business loan wants two years of tax returns, year-to-date financials, a debt schedule, projections and often a business plan. A no-doc product skips all of that and underwrites on your business bank statements.
You will still be asked for documents. There are just far fewer of them, and they are ones you already have rather than ones your accountant has to prepare.
Be clear-eyed about the trade. Less documentation means the funder has less information, and less information is priced as risk. No-doc products carry a higher cost per dollar borrowed and shorter terms than a bank loan or an SBA-backed loan.
That is a fair trade when speed or accessibility is what you need. It is a poor trade if you have clean books, two years of returns and three months to wait — in that case the cheaper money is genuinely available to you and you should take it.
No. Expect three to four months of business bank statements, ID and a voided check. What you skip is tax returns, financial statements and projections.
Generally yes. Less documentation means less information, and that is priced in. Compare the total dollars repaid, not the rate.
The minimum FICO is 500. Scores in the 500s are placed routinely and are read on revenue, deposit consistency and time in business rather than the score alone.
A decision typically comes within 2 to 4 hours on a complete file, with funding the same or next business day.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
