Get ready to apply
Your business loan application checklist
Last updated: November 2026
What documents are needed for a business loan?
For most 1West applications, the core document is your four most recent months of business bank statements.
Beyond that, what you need depends on the product. 1West generally asks that applicants have been in business at least six months, earn $20,000 or more per month, and have a FICO score of 600 or higher. Use the readiness check below to see how your business lines up before you start.
Quick readiness check
Documents by financing type
| Document | Usually needed for |
|---|---|
| Four most recent months of business bank statements | Most 1West applications |
| Basic business details: legal name, start date, industry | Every application |
| Vendor quote or invoice for the equipment | Equipment financing |
| List of outstanding invoices and who owes them | Accounts receivable financing |
| Tax returns and financial statements | Often requested for SBA and larger loans |
| Project budget and property details | Commercial real estate and SBA 504 |
| A written use of funds | Strongly recommended for every application |
Lenders may request more. 1West has a guide on exporting bank statements from major banks on your phone.
A clear use of funds is the one document no lender ever complains about.
Can a start-up LLC get a loan?
Most 1West options are built for established businesses, which is why the general guideline is six months in business. Newer companies can look at SBA microloans, which SBA.gov describes as loans of $50,000 or less, or local programs listed on the SBA planning resources page. Come back to 1West once you have six months of history.
See every product on the small business funding options page.
Application questions
- What documents are needed for a business loan?
- For most applications through 1West, the core document is four months of business bank statements. Depending on the product, lenders may also request tax returns, financial statements, a debt schedule, equipment quotes, or details of outstanding invoices. SBA and real estate loans usually need the most documentation, so organize those early.
- What are the requirements to apply with 1West?
- 1West generally asks that applicants have been in business for at least six months, provide four months of business bank statements, have monthly revenue of at least $20,000, and have a FICO score of 600 or higher. Meeting these does not guarantee approval; each lender and product has its own requirements and final terms.
- What disqualifies you from getting a business loan?
- Common reasons a business loan is declined include too little time in business, revenue below the lender minimum, a low credit score, frequent overdrafts or negative balances, heavy existing debt, and incomplete documents. For 1West, falling below six months in business, $20,000 monthly revenue, or a 600 FICO generally means waiting and strengthening your file before applying.
- Can I apply for business financing outside business hours?
- Yes. 1West built ABLE so businesses can apply on their own terms in their own time, 24/7. That matters for owners who work through the day and handle paperwork at night. Lender review and funding still follow each lender schedule, but your application does not have to wait for the morning.
- How much can I apply for through 1West?
- The 1West application lets you choose an amount from $5,000 up to $1,000,000 or more. Product ranges listed by 1West include $10K to $5M for equipment, $10K to $10M for receivables, and $100K to $20M for commercial real estate. The amount offered depends on the lender and your business profile.
- What should I do after I get approved?
- After approval, read the agreement closely: rate or factor, fees, payment schedule, prepayment terms, and total repayment. Confirm how funds will be disbursed. Then put the money to the use you planned and track repayments against your cash flow. 1West has a blog guide on what to do after approval.
Documents ready? Start your application.
ABLE takes applications 24/7. The 1West team guides you through the offers.
Eligibility and final terms depend on the financing product and lender. No approval, rate, or timing is guaranteed.