There is no single credit-score requirement for every business loan. The product and lender determine the threshold, and your revenue and existing obligations also matter. Propello’s current credit-based funding criteria start at 700, but you can submit an inquiry with a lower score to discuss an appropriate next step.
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Does the Lender Check My Personal or Business Credit?
It may check both. Your personal credit history and your company’s credit file are different records. An LLC or an EIN does not automatically remove the owner from underwriting. Before authorizing an application, ask which report will be reviewed and whether the review uses a soft or hard inquiry.
A score displayed in a consumer app may not be the score a funding provider uses. Include the score’s source and date when you share an estimate; do not treat a small difference between scoring models as an error by itself.
What Else Does Propello Review?
A 700 score is a starting point, not an approval. We also ask about payment history, utilization, account history, inquiries, collections, charge-offs and bankruptcy appearing on the report. For revenue-based requests, business revenue and current financing payments belong in the same conversation.
- Know your approximate score and the date you checked it.
- Identify any overdue accounts or reported errors.
- List current business funding payments.
- Have a realistic amount and use of funds in mind.
What If My Score Is Below the Current Criteria?
You can still tell us where you stand. If the credit profile needs work before a suitable funding application, we can discuss preparation and, where appropriate, a separate Venture Ready consultation. Credit improvement is not an approval guarantee, and paying for credit services does not guarantee financing.
Prepare One Clear Snapshot
“My estimated score is 675, the business brings in $28,000 monthly, and I need $18,000 for inventory” is more useful than “Can I qualify?” It gives the review a specific starting point without asking you to upload a credit report into an ordinary contact form.
Educational information, not a loan offer. Availability and terms depend on the program, property or business, and borrower qualifications. Legal and tax questions should be reviewed with your advisers.