Lenders evaluate revenue, credit history, and ownership stability. Chase requires annual revenue of at least $100,000, a personal FICO score of at least 660, and stable business ownership for two years [1]. These thresholds are representative of what established banks expect for a revolving line in the $10,000–$500,000 range [1].
For newer businesses, the picture shifts. According to the SBA, business credit eligibility for new companies frequently relies on the owner’s personal credit score, since the business itself lacks a track record [8]. The SBA also notes its loan eligibility is based on business size, demonstrated repayment ability, and a sound business purpose [2].
SBA-guaranteed products widen access for businesses that may not meet conventional bank standards. The agency guarantees 7(a) loans, microloans of $50,000 or less, and export loans through partner lenders [2]. Because the federal guarantee reduces lender risk, some applicants who would be declined for a standard bank line qualify for SBA-backed financing instead [2]. Before applying, pull your personal credit report and verify your business meets the lender’s minimum revenue and time-in-business floors to avoid a hard-inquiry decline.