Must have before submitting. Missing any = automatic delay or decline.
Bank Statements
3 consecutive months of business bank statementsMost recent 3 months. Must be the primary business checking account — not personal, not savings. All pages, front and back where applicable.
PDF or clear photo scan — no handwritten statementsStatements must be bank-generated. Handwritten or edited documents will be rejected immediately.
Business Identity
Voided business checkFor ACH setup. Must show routing and account number. Write "VOID" in large letters across the face.
Valid government-issued photo IDDriver's license or passport of the business owner(s) with 20%+ ownership interest.
Business license or DBA registrationAny government-issued document showing your business is legally registered to operate.
Sometimes Requested (have ready)
Lease agreement or mortgage statementShows your location is stable. May be requested for applications over $75,000.
Most recent tax return (business)Not always required but can accelerate approval for larger advance requests.
Food service or liquor licenseFor restaurants with liquor service — may be requested as evidence of legal operation.
2
Bank Statement Health Check
Review your statements before you submit. Know what underwriters will see.
Count your NSFs and average daily balance before applying. What you find here predicts your offer better than anything else on this checklist.
Count your NSFs in each of the 3 monthsTarget: 0 NSFs across all 3 months. Acceptable: 1–2/month. Problem: 3+/month. If you have 5+, consider waiting 30–60 days to clean up your account before applying.
Calculate your average daily balanceAdd up all end-of-day balances in each statement and divide by the number of days. Target: $1,500+. Good: $3,000+. Weak: under $500.
Calculate your average monthly depositsAdd total deposits for each month (Month 1 + Month 2 + Month 3) ÷ 3. This number drives your advance amount. Use the calculator to estimate your offer.
Identify existing MCA paymentsLook for regular daily or weekly ACH debits with names like "Rapid Advance," "Fundbox," "Kabbage," "OnDeck," or similar. Count them. More than 2 is a red flag.
Verify all POS and delivery deposits are in this accountSquare, Toast, Clover, DoorDash, Grubhub, Uber Eats — all payouts should land in this business checking account. Missing deposits reduce your average and your offer.
Check that deposits appear consistently across weeksGaps of 4–5 days with no deposits may raise questions about days closed. If your restaurant is closed Monday–Tuesday, that pattern should be visible and expected — just make sure the rest of the week has consistent deposits.
3
Application Timing
When you apply determines the offer you receive. Don't skip this.
Identify your best 3-month deposit windowLook at your last 12 months of statements and find the 3 consecutive months with the highest total deposits. That's your ideal application window. Use the timing guide for specifics.
Confirm you are NOT applying during your slowest 3 monthsFor most restaurants, January/February/March is the worst window. If your 3 most recent months are your slowest, either wait 60 days or accept a smaller offer.
Confirm your statements from the desired window are readyMost lenders require the most recent 3 consecutive statements — you cannot choose which 3 to submit. Make sure your current month-over-month window is your best.
4
Application Day
Submit before noon for same-day decisions. Have everything in one folder.
Complete the one-page application accuratelyLegal business name, DBA name, address, federal EIN, business type, time in business, monthly revenue (use your deposit average), desired funding amount, and purpose of funds.
Have all 3 bank statements in a single PDFMerge your 3 statements into one file if possible. This reduces friction and speeds processing.
Submit before noon local time for same-day reviewApplications received after noon EST often roll to next-business-day review. Submit early.
Be available by phone from 10am–4pmUnderwriters may call to verify information. A missed call can delay approval by 24 hours.
Have a clear purpose for the funds"Equipment repair," "payroll coverage," "inventory build for holiday season," "slow season bridge" — specific purposes speed approval and improve offer quality.
5
After Approval
Review before signing. Understand every number.
Confirm the advance amount, factor rate, and termExample: $40,000 advance at 1.28 factor over 132 business days. Total payback = $51,200. Daily payment = $387.88.
Calculate your monthly payment (daily × 22 days)Make sure this monthly amount is sustainable even during your slowest weeks. Use the calculator to verify.
Identify the ACH debit date and ensure funds are availableACH typically starts 1–2 business days after funding. Ensure your account has enough to cover the first payment before the advance deposits.
Save your funder's contact informationIf you anticipate a slow week or holiday closure, contact your funder 2–3 days in advance. Proactive communication prevents NSFs and maintains your relationship.
After signing, funds typically deposit within 24–48 hours. Watch for the ACH setup confirmation from your funder and verify the correct account and amount are listed before confirming.
Checklist Complete? Apply Now.
One application. 3 months of bank statements. Decision in 24–72 hours.
T.A.G. Business Funding