How to Become "Bankable"

Being bankable means that your business meets the standards of institutional lenders like banks, credit unions, and the SBA. Being bankable doesn’t mean being perfect. It means being transparent, consistent, and easy to underwrite. Start now—even if you’re not applying yet. The better you look on paper, the better your options when the time comes.

Here are some tips to get you there:

1. Stay Up-to-Date with Your Tax Returns

• Keep digital copies of your returns and extensions.
• Make sure you don’t carry any IRS liabilities. 

2. Build Personal and Business Credit

• Maintain FICO above 680 personally.
• Pay business vendors early and monitor your business credit reports.

4. Establish Legitimacy

• Have an LLC or corporate structure.
• Get a business bank account.
• Maintain a web presence (even a simple site helps).

5. Avoid Red Flags

• No judgments, liens or lawsuits.
• Respond to lender requests quickly—radio silence is a killer.

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