What to prepare before seeking business financing

Make the financing request specific

Describe the business purpose, the amount needed, and the timing. Separate one-time investment from recurring operating expenses. If the amount is an estimate, identify the supplier quote, hiring plan, or collection gap behind it.

For inventory, note supplier deposits, delivery time, expected sell-through, and customer payment terms. For construction, map mobilization, payroll, billing milestones, and possible retainage. The objective is to explain the cash gap, not just request a round number.

Organize a useful starting file

The final document list depends on the provider and financing type. These records help you and your advisers identify missing or inconsistent information before a formal submission.

• Recent business bank statements and current financial statements
• Accounts receivable and payable aging, when relevant
• A schedule of existing financing, payments, and balances
• Business formation and ownership information
• Tax returns or other supporting records if requested by the provider
• A simple cash-flow forecast tied to the intended use of funds

Review credit and obligations together

Check that business information and credit records are accurate, understand upcoming payments, and investigate discrepancies. Do not assume a business-credit score alone establishes lender eligibility.

If records are incomplete or debt service is already difficult, the next step may be preparation rather than another application. Work with your bookkeeper or accountant to reconcile records and distinguish recurring performance from one-time events.

Know what happens after an inquiry

The Farhang website’s initial application does not require a Social Security number or bank login and does not authorize a credit pull. A provider may later require additional documentation and separate authorizations. Use the agreed secure submission process for sensitive documents.

A readiness conversation can end with a preparation plan, an evaluation of available options, or a decision to revisit financing later. No universal revenue threshold or credit-score cutoff fits every provider.