Step 1: What goes into the application?
The application asks for basic business details, owner information, what you want to fund and roughly how much it costs. It takes a few minutes. Be specific about the purpose: a draft system for a new taproom, pre-season staffing for an inn, or a lounge re-concept. A clear purpose helps us match the right product instead of a generic one.
Start the application whenever you are ready. You do not need every quote finalized, but a rough budget and timeline help.
Step 2: What documents are reviewed?
Most requests start with recent business bank statements, owner identification and basic business details. Equipment and renovation requests add quotes. Larger or longer-term requests, including SBA options, may need tax returns, financial statements and a copy of your lease. Requirements vary by product and funder; many look at time in business, monthly revenue and credit.
- Business bank statements, often three to six months, or a full year for seasonal businesses
- Owner identification and business details
- Vendor, installer or contractor quotes for equipment and renovations
- Tax returns, financial statements and lease for larger requests
Missing statements are the most common cause of delay, so gather them before you apply.
Step 3: How do you compare offers?
If funding partners make offers, compare them on the same basis: the amount you receive after fees, the total repayment, the payment amount and frequency, the term, and how early repayment is handled. Then test each payment against your slowest month. A cheaper offer with a payment that does not fit a quiet January is not really cheaper.
Ask questions about anything unclear before signing. Useful comparisons for hospitality owners are in our guides to lines of credit and revenue-based financing.
Steps 4 and 5: What happens at signing and funding?
Once you choose an offer, you review and sign the agreement, and the funding partner may verify details such as the bank account or ownership. Funds are then sent to your account, or directly to the vendor for equipment. Some approvals come within a day or two, depending on documents; construction and SBA-backed funding usually take longer.
After funding, keep records of how the money was used and track the result, such as added covers, bookings or drink sales. That history makes future requests easier. Learn more about OpenTab Capital.
Frequently asked questions
How long does each type of funding take?
Working capital and revenue-based financing are often the quickest, and some approvals come within a day or two, depending on documents. Equipment financing depends on quotes and vendor invoices. Term loans for renovations can take longer, and SBA loans typically take considerably longer because of the fuller application and review.
Am I obligated to accept an offer?
No. You can review offers, ask questions and decline if none fit your business. Take the time to read the full agreement and compare total repayment, not just the payment amount or how fast the money arrives. Ask about anything unclear before signing.
Can I apply if my business is seasonal?
Yes. Seasonal patterns are normal for bars, cafés, inns and event venues. Providing a full year of bank statements helps funders read slow months in context, and applying before your slow season usually gives you more options than applying in the middle of it.
What happens if I need more funding later?
Many owners return for a later project, such as equipment after a renovation. Funders review current payments, so a new request needs to fit alongside existing ones. A record of on-time payments and steady deposits generally helps. Tell us about existing payments when you apply again.
Take the first step
The application takes a few minutes, and there is no obligation to accept an offer.
Updated September 14, 2026 · OpenTab Capital Funding Team