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Bank Statement Loan
A bank statement loan is underwritten primarily on 3–6 months of business bank statements, without tax returns or financial statements.
Last updated Reviewed by ICG Funding
Definition
What it means.
Bank statement underwriting looks at deposit consistency, average balance, NSFs, and existing debt service drawn directly from statements. It is faster than tax-return-based underwriting and more forgiving of recently filed extensions or weak on-paper profitability.
Most revenue-based funding and short-term working capital from ICG uses bank statement underwriting. SBA and larger term loans still require tax returns and a P&L.
Now what?
Get an offer that accounts for bank statement loan.
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