Glossary
Time in business
How long the business has operated.
A common minimum criterion, measured from registration or first revenue depending on the provider, and set by each provider. Newer businesses face fewer options and higher pricing because there is less history to underwrite. What is realistic in year one.
How it appears in a contract
Application question; verified by formation documents or the first bank statement.
Worked example
Two providers may measure the same business as 8 months (first deposit) or 14 months (LLC formation); ask which date counts.
Illustrative figures on stated assumptions; not quotes.
What to ask
- Measured from what date?
- What is your minimum for this product?
- Does a prior business under the same owner count?
Related terms
EIN · Cash flow underwriting · all terms
Educational definitions, not legal advice. Contract terms and their legal treatment vary by provider and state; read your agreement and ask a professional.
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