process
Time in Business
Time in business is the number of months or years since your business was legally formed and began operating.
Last updated Reviewed by ICG Funding
Definition
What it means.
Almost every funder uses time in business as a primary eligibility screen. ICG’s minimum is typically 6 months for revenue-based funding and 2 years for SBA products. Time in business is measured from the EIN issuance date or state formation date, whichever is earlier.
Startup businesses with less than 6 months in business generally cannot qualify for non-collateralized working capital and should consider equipment financing, credit cards, or SBA microloans instead.
Now what?
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