Do You Work with Startups?

While FundLocal offers flexible financing solutions for small businesses, we require businesses to have been operational for at least 6 months to qualify for funding. This means that while we don’t work with brand-new startups that are still in their initial stages, we do support businesses that have been operating for half a year or longer and are looking for financing to grow, manage cash flow, or invest in equipment.

Here’s what you need to know about our funding requirements and how we can help businesses in their early stages.

At FundLocal, we focus on providing financing to businesses that have established a financial track record. Requiring at least 6 months of operations allows us to better assess a business’s financial health, cash flow, and ability to manage loan repayments.

Key Reasons for the 6-Month Requirement:

1. Revenue History: Lenders need to see that your business generates consistent revenue to ensure you can handle loan repayments.

2. Cash Flow Stability: Operating for at least 6 months gives your business time to build stable cash flow, which is essential for managing short-term and long-term debt.

3. Risk Management: Businesses that have been operating for 6 months are less risky for lenders compared to brand-new startups, which often face higher financial uncertainty.

We provide financing for small businesses across a wide range of industries, including retail, construction, manufacturing, restaurants, and more. Our funding options, including Business Lines of Credit, Working Capital Loans, and Equipment Financing, are designed to support businesses that have a proven operational history and are looking to expand, manage cash flow, or invest in growth.

If your business has been operating for at least 6 months, you may qualify for several of our financing options:

1. Business Line of Credit

• Best For: Businesses needing flexible, revolving credit to manage cash flow fluctuations, cover short-term expenses, or seize growth opportunities.

• Features: Borrow as needed, repay, and borrow again. Pay interest only on the funds you draw.

2. Working Capital Loan

• Best For: Covering day-to-day operational expenses such as payroll, rent, or inventory purchases. Ideal for businesses with short-term funding needs.

• Features: Receive a lump sum of cash upfront with fixed payments over a short term.

3. Equipment Financing

• Best For: Businesses looking to purchase or lease equipment necessary for operations or growth, such as machinery, technology, or vehicles.

• Features: Fixed payments over time, with the equipment itself serving as collateral.

If your business hasn’t yet reached the 6-month operational mark, we encourage you to focus on building a strong financial foundation. Once your business has been operating for at least 6 months, you’ll be eligible to apply for our financing options. Here are some tips to help prepare for future funding:

1. Build Consistent Revenue

• Focus on growing your business’s revenue through sales, marketing, and operational improvements. Consistent revenue is a key factor in qualifying for financing.

2. Manage Your Cash Flow

• Keep a close eye on your cash flow to ensure you have enough funds to cover operational expenses. Positive cash flow improves your chances of qualifying for a loan or credit line.

3. Maintain Accurate Financial Records

• Keep your financial records, such as bank statements and revenue reports, up to date. Lenders will need this information to evaluate your business’s financial health.

1. Can my business qualify if it has been operating for less than 6 months?

• No, FundLocal requires businesses to be operational for at least 6 months to qualify for funding. Once you reach this milestone, you can apply for our financing options.

2. Why do you require 6 months in business?

• The 6-month requirement helps us assess your business’s financial stability, revenue patterns, and cash flow, which are important indicators of your ability to manage loan repayments.

3. What if my business has consistent revenue but is less than 6 months old?

• While revenue is an important factor, we still require businesses to meet the 6-month operational minimum. Once you’ve reached that milestone, your consistent revenue will strengthen your application.

4. What financial documents do I need to apply?

• To apply for funding, you’ll need to provide recent business bank statements (3-4 months) and other financial information that demonstrates your revenue and cash flow.

5. Do you work with businesses in all industries?

• Yes, FundLocal works with businesses across a wide range of industries, including retail, construction, manufacturing, restaurants, and more.

At FundLocal, we support businesses that have been operational for at least 6 months and are looking for flexible, fast financing solutions. Our range of products, including lines of credit, working capital loans, and equipment financing, are designed to help small businesses grow, manage cash flow, and invest in necessary resources.

If your business hasn’t reached the 6-month mark yet, we encourage you to focus on building a strong financial foundation, and we look forward to working with you once you qualify for funding!

If your business has been operating for at least 6 months and you’re ready to explore financing options, FundLocal’s fast and simple application process can help you get the funds you need to grow your business. Apply now or contact our support team for personalized assistance!