Situation

Business funding with bank statement requirements: how it is read and what helps.

Bank statements are the main document in a deposit-based review, so how they look matters.

✓ Checking what you qualify for does not affect your credit score.

How this is read

Bank statements are the main document in a deposit-based review, so how they look matters.

A funder reads statements for deposit totals, deposit consistency, average daily balance, low or negative days and any existing debits. Missing pages or edited files slow everything down.

What helps

Four recent months, every page
PDFs downloaded from online banking
The account in the business name
A one-line note on any large one-off deposit

What hurts

Screenshots and photos
Gaps in dates
Statements from the wrong account

A sensible plan

Download PDFs directly from your bank, send all months at once and name them clearly. If deposits go to more than one account, send both.

Illustrative arithmetic

A medical clinic depositing about $100,000 a month asks for $40,000 for new exam rooms. At a 1.2 factor the payback is $48,000, a cost of $8,000. Over roughly 7 months that is about $327 per business day, or close to 7% of monthly deposits.

Total payback: $48,000.
Cost: $8,000.
Payment: about $327 per business day, close to 7% of monthly deposits.

Every figure on this page is illustrative arithmetic in Canadian dollars. It is not an offer, a quote or a promise of approval.

Typical starting points

Monthly revenueTypically from around $20,000 a month in deposits for Canadian files. The exact line varies by funder and by file.

Time in businessTypically about 12 months. Newer businesses can be reviewed, but the options narrow.

Account healthLimited low-balance or negative days. Funders read the last few months of bank statements for this.

CreditScores from 500 are considered. A score of 600 or higher opens more options and better offers.

DocumentsA signed application and recent business bank statements, typically the last four months.

Existing advancesFiles with an existing advance can be reviewed, including second position.

Common questions

How many months do I need?

Typically the last four.

Can I send online-banking screenshots?

PDFs are preferred because they show all pages and balances.

What if I use more than one bank?

Send each account's statements for the same months.

Keep reading

Underwriting situationsCredit, NSFs, time in business and more Funding requirementsTypical starting points for Canadian files Documents you needWhat to have ready before you apply Bad credit business fundingHow files with weaker credit are read GlossaryPlain-language definitions

Educational information only. It is not legal, tax or accounting advice.

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