Lenders and funding providers often ask for three to six months of bank statements and sometimes card processing statements. Here's why they ask and what they look for.
Why Six Months?
Six months of statements show revenue patterns, consistency, and seasonality. Providers use this to assess how much you can access and repay. A few months of strong sales followed by a dip can still show a healthy history. See restaurant bank statement requirements for what lenders typically ask for.
What Providers Look For
Deposits, revenue consistency, and cash flow patterns. They want to see that your restaurant has steady revenue over time. Gaps, overdrafts, or erratic patterns may affect eligibility or amount. Some providers may accept less than six months for newer businesses; others require more.
Card Processing Statements
For restaurant cash advance and restaurant working capital, card processing volume often matters. Providers may ask for merchant statements alongside bank statements. See restaurant card processing statements for funding.
Key Takeaways
Six months shows revenue history and patterns. Have statements ready to speed the process. Compare what different providers ask for.
Frequently Asked Questions
Why do lenders ask for six months of statements?
To assess revenue consistency, seasonality, and cash flow patterns. It helps them determine eligibility and amount.
Can I get funding with less than six months of statements?
Some providers may accept three or four months for newer businesses. Requirements vary.
Do I need to provide both bank and processing statements?
Depends on the provider. Many ask for both. Having them ready speeds the process.