Banks are not looking for a pitch. They are looking for evidence that the business repays and that you understand your own numbers.
Most declines at this stage are documentation problems, not business problems.
Check what a bank will see
Twelve months of business bank statements, your personal credit, and any existing UCC filings.
Produce current statements
A P&L and balance sheet through last month end. Not a tax return from last year.
Clean up the debt picture
Terminate paid-off UCC filings and consolidate expensive short-term debt where you can.
Write the use of funds
One paragraph: inventory purchases repaid within a sales cycle. Specific beats general.
Start with your own bank
The bank that already sees your deposits has the most information and the least risk.
Expect a personal guarantee
Nearly universal at this size. Know your total personal exposure before signing.
Draw and repay deliberately
Use it for inventory cycles. A line that revolves properly is a line that grows.
Example
- Applying with only tax returns and no current statements.
- Funding overhead with revolving credit.
- Taking expensive daily-repayment financing first and blocking the bank option.
Your business is ready to buy wholesale.
A Pro account gets you access to inventory. It doesn't automatically come with terms or financing.