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No-doc business loans are pretty much what they sound like! You don't need to provide any financial statements or documentation to receive financing. Funding is provided based on credit standing and whatever information you provide in your loan application.
You have several options for EIN-only loans: Invoice Factoring. Accounts Receivable Financing. Merchant Cash Advances. Other types of loans.
It is possible to get a startup business loan with no revenue or no money. But if you need to find financing that doesn't depend on cash flow, your best choice may actually be to wait ? if you can afford to. You'll likely qualify for better rates and terms once your business's finances are stronger.
Essential Small Business Loan Requirements Personal/business credit score. Before applying for any loan, review your personal credit score. ... Business plan. ... Bank statement & ratings. ... Balance sheet. ... Business cash flow. ... Collateral or assets.
You can apply for a business loan with your EIN if you're a new business owner without established credit. However, you may also need to include your SSN and details about your personal finances because you'll likely have to provide a personal guarantee.