Key Takeaways
- Core documents: 3 months business bank statements + business EIN
- No personal tax returns required for initial pre-qualification
- No immigration documents required—visa status is not evaluated
- Full document set typically collected in under 20 minutes
- 48-hour decision after document submission
One of the most common misconceptions about business funding is that it requires extensive documentation. Tax returns for three years, a 50-page business plan, personal financial statements, collateral appraisals. For traditional bank loans and SBA programs, this is partially true—and for F-1 OPT founders, those programs are also closed. Bankable's process is designed differently: lean documentation, fast evaluation, decisions in 48 hours.
The Essential Document Checklist
For pre-qualification (which requires no hard credit pull and results in a preliminary offer within 24-48 hours), you need:
- 3 months of business bank statements: The most recent 3 months of your primary business checking account. Downloaded as PDF from your bank's portal is acceptable. These show revenue deposits, cash balances, and cash flow patterns.
- Business EIN (Employer Identification Number): Your business's federal tax ID. Found on your IRS EIN confirmation letter, business bank account documents, or by logging into IRS.gov.
- Business legal name and registration state: The exact legal name of your LLC or corporation and the state where it's registered (e.g., "Tech Ventures LLC, Delaware").
- Contact information: Your email, phone number, and preferred contact method.
Documents for Full Underwriting
After pre-qualification and initial approval, full underwriting may require additional documents depending on loan amount:
| Document | Required For | Notes |
|---|---|---|
| 6 months bank statements | Loans over $100K | Extended revenue history |
| 12 months bank statements | Loans over $500K | Annual revenue pattern |
| Business formation docs | All amounts | Articles of Organization or Incorporation |
| Most recent business tax return | Loans over $250K | 1 year only, not 3 years |
| Accounts receivable aging | Invoice financing | Outstanding invoice list with dates |
| Equipment invoice/quote | Equipment financing | For equipment-specific products |
What You Do NOT Need
To be explicit about what Bankable does not require, because many OPT founders expect these based on traditional bank experiences:
- Personal tax returns (W-2, 1040) — Not required
- Immigration documentation (F-1 visa, EAD, I-20) — Not required
- Proof of citizenship or permanent residence — Not required
- Business plan or financial projections — Not required
- Collateral documentation (real estate appraisals, equipment values) — Not required for most products
- Personal bank statements — Not required
- 3 years of business tax returns — Not required (1 year only, for larger amounts)
How to Gather Your Documents in 20 Minutes
Step 1: Log into your business bank account (Chase, Bank of America, Mercury, Relay, or any other bank). Download the last 3 months of statements as PDFs. Step 2: Find your EIN. Check your IRS EIN confirmation letter, your bank account paperwork, or your state business registration. Step 3: Have your business legal name and state of registration ready. Step 4: Complete the Bankability Score check at bankablefunds.com—the form guides you through document upload. The entire process takes 15-20 minutes from start to submission.
Frequently Asked Questions
The 3 most recent months of your primary business checking account statements. Downloaded as PDFs from your bank portal is the standard format.
No. Bankable does not request or evaluate immigration documentation. Your F-1 visa status is not part of the application.
No. Business plans are not required for pre-qualification or most underwriting. For very large amounts (over $1M), a brief executive summary may be requested.
3 months is the minimum. If your business bank account has fewer than 3 months of history, you can supplement with the full history available plus supporting revenue documentation (invoices, Stripe/PayPal/Square statements showing revenue).
No. Bankable evaluates business bank statements, not personal bank statements. Your personal finances are not part of the evaluation.
For businesses under 1 year old, tax returns are often not available. Bankable can evaluate businesses based on bank statement history alone for amounts under $250K.
Yes. PDFs downloaded from your bank's online portal are fully accepted. Printed and scanned statements are also accepted but digital is preferred.
For businesses with multiple revenue streams (Stripe + PayPal + ACH deposits, for example), provide statements from all accounts that show business revenue. A consolidated view of total monthly deposits is most helpful.