Top 20 Compliance Items Lenders Review

  1. Business Physical Address: The business must have a business address as per the USPS database.
  2. Business Phone & 411 Listing: The business must have an FCC listed business number, not cell or home.
  3. Entity with State Records: Your entity must be open, active and in good standing.
  4. Federal EIN: Your Employer Identification number filing must match your state filing exactly.
  5. Business Banking:
    1. Business Banking: The day your business bank account opened is when lenders consider it began.
    2. Your Bank Rating: Your business bank rating should be a minimum of a low 5.
  6. Business Licenses: All applicable city, county, state business licenses must be filed.
  7. Business Website & Email: Business needs a website that is found on the local business searches and apps.
  8. Social Media: NEEDS DESCRIPTION
  9. Business Plan: An SBA loan compliant business plan with market analysis & revenue projections.
  10. 411 Directory: Business phone number must be listed with 411 under the exact legal name.
  11. Business Credit:
    1. Business Credit: NEEDS DESCRIPTION
    2. Experian Business: File must be open with a good credit history and a strong score.
    3. Creditsafe: File must be open with a good credit history and a strong score.
    4. Dun & Bradstreet: File must be open with a good credit history and a strong score.
    5. Equifax Business: File must be open with a good credit history and a strong score.