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Bar or hospitality business loan requirements

Most funding sites will not tell bars and hospitality businesses the cutoffs until after an application. These are the published thresholds, and the four things that disqualify a file outright.

The published thresholds

Lowest-cost tier3+ years in business, a 650 FICO, $300,000 a year or $25,000 a month, 8+ deposits a month
Revenue-based tier6 months in business, a 600 FICO and $60,000 in verifiable revenue
Renewala renewal once 50% of an original balance is repaid, which drops the credit floor to 550
Average bank balance$5,000, or 10% of monthly revenue
Negative daysMax 3 in a month, 9 across six months
NSFsMax 6 in a month, 24 across six months
Existing positionsNo more than 2
States not fundedVermont, North Dakota and South Dakota
OwnershipAt least 50%. No non-profits

What disqualifies a file outright

These four are not judgement calls, and nothing else in the file compensates for them.

Non-profit — not eligible on any tier
Operating in Vermont, North Dakota or South Dakota
More than two open positions
Bankruptcy or foreclosure inside the last three years
Missing one threshold is not a decline. The revenue-based tier exists for exactly the files the first tier turns away — 6 months in business, a 600 FICO and $60,000 in verifiable revenue.

What underwriting actually reads

A bar earns most of its money in a handful of hours a week, and the licence, the inventory and the staff have to be paid for regardless of whether those hours land.

Thresholds get the file read. Three to six months of business bank statements decide it — average daily balance against monthly revenue, deposit count, negative days and NSFs. A bar or hospitality business clearing every number with a balance that hits zero weekly is a harder file than one sitting a point under with a steady cushion.

Common questions

What do bars and hospitality businesses need to qualify for funding?

For the lowest-cost tier: 3+ years in business, a 650 FICO, $300,000 a year or $25,000 a month, 8+ deposits a month. For revenue-based funding: 6 months in business, a 600 FICO and $60,000 in verifiable revenue.

What credit score is required?

650 for the lowest-cost tier, 600 for revenue-based funding, 550 on a renewal.

What disqualifies an application?

Being a non-profit, operating in Vermont, North Dakota or South Dakota, carrying more than two open positions, or a bankruptcy or foreclosure inside three years.

Do I need tax returns?

No. Three months of business bank statements is the standard ask.

Will checking affect my credit?

No.

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