One reason revenue-based funding is fast is that it requires far less paperwork than a bank loan. There are no lengthy tax-return packages or business plans. This guide lists exactly what you need to apply and why each item matters.
The core checklist
Most applications need three things: a simple one-page application, your three to six most recent business bank statements, and a voided business check (or bank login for verification). That is usually enough for a decision.
Why bank statements matter most
Because approval is based on the deposits flowing through your business, your bank statements are the heart of the file. They show monthly revenue, deposit consistency, and average balances — the signals that determine your offer. Clean, complete statements speed everything up.
What you usually do not need
Unlike a bank, revenue-based funders typically do not require personal or business tax returns, a formal business plan, financial projections, or collateral appraisals. That is what makes a same-day decision possible for eligible applications.
How to speed up approval
Have your most recent statements ready, make sure your business name and address are consistent across documents, and disclose any existing advances up front. Accurate information up front avoids back-and-forth and gets you funded faster.
The bottom line: a few bank statements and basic details are usually all it takes. Y Millennial Funding is a direct funder of revenue-based funding for businesses doing $25,000 or more in monthly revenue — a small business loan alternative, not a loan. Not all applicants qualify.