Why QuickBooks Capital often is not the route
QuickBooks Capital underwrites from accounting data inside QuickBooks, so the offer depends on how your books are kept as much as on the business itself.
What is different here
One application against thresholds published in advance. Checking what you qualify for does not affect your credit score.
There is no hard credit cutoff here. The 650/600/550 tiers are product criteria, not a floor on the business. Scores in the 500s are placed routinely, and files in the 400s are read on revenue, deposit consistency and time in business rather than on the score alone.
The numbers in full
Tier 1: 650 FICO, 3 years in business, $300,000 a year or $25,000 a month, 8+ monthly deposits.
Tier 2: 600 FICO, 6 months in business, $60,000 revenue, $800 minimum daily balance.
Renewal: 550 FICO, 2 years in business, once 50% of the original balance is repaid.
Line of credit $10,000 to $350,000 from 1% per month on the drawn balance. Term loan $10,000 to $250,000 at 0% origination.
Questions
Why was I declined by QuickBooks Capital?
QuickBooks Capital underwrites from accounting data inside QuickBooks, so the offer depends on how your books are kept as much as on the business itself.
Will applying here affect my credit?
No.
How fast is a decision?
Same day on a complete file.
What credit score do I need?
There is no hard credit cutoff here. The 650/600/550 tiers are product criteria, not a floor on the business. Scores in the 500s are placed routinely, and files in the 400s are read on revenue, deposit consistency and time in business rather than on the score alone.