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Yes, you can get a business loan with an LLC and EIN. Most lenders actually prefer it. Having a registered LLC and a federal Employer Identification Number tells lenders you've done the work to set up a real business entity, and it separates your business finances from your personal ones. That separation matters when you're applying for funding.
What trips people up isn't the LLC itself. It's not knowing what else lenders need to see alongside it.
Why Your LLC and EIN Are Just the Starting Point
Forming an LLC is one of the most common moves a small business owner makes. According to IRS business tax statistics, LLCs have made up the majority of partnership-type business returns filed for more than 20 consecutive years. They're popular for a reason: limited liability protection, pass-through taxation, and a structure that holds up when you go to borrow money.
Your EIN works like a Social Security number for your business. You use it to open business bank accounts, file taxes, and apply for credit. Lenders use it to pull your business credit profile and verify your entity with the IRS.
But having both an LLC and an EIN doesn't automatically get you funded. Lenders still want to see that the business is operating and generating revenue. Here's what they're actually evaluating.
What Lenders Look at When You Apply
Business credit history
Your EIN is tied to your business credit profile with bureaus like Dun & Bradstreet, Experian Business, and Equifax Business. If you haven't built any business credit yet, lenders will fall back on your personal credit score. This is normal for newer businesses. It doesn't disqualify you, but it does mean your personal FICO score carries more weight than you might expect.
Personal credit score
Even with a properly structured LLC, most small business lenders still check the owner's personal credit, especially for businesses under a few years old. Banks typically want scores in the 680 to 720 range or higher. Alternative lenders work with lower scores.
Time in business
Lenders want to see that your LLC has been actively operating, not just registered. Most traditional banks want at least two years of history. Many online lenders will work with businesses that have been operating for six months or more.
Monthly revenue
This is often the deciding factor. Lenders want to know your business generates enough cash flow to handle a loan payment. They'll ask for bank statements, often three to six months' worth, to verify what's actually coming in.
Business bank account
If you're running revenue through a personal account, that's a problem. You need a separate business bank account connected to your LLC and EIN. It's one of the first things lenders look for, and it's a basic requirement almost everywhere.
Do You Need Collateral?
Not necessarily. Unsecured business loans don't require you to pledge specific assets, though the lender may still ask for a personal guarantee, which means you're personally on the hook if the business can't repay. Secured loans, like equipment financing or invoice factoring, use the asset itself as collateral, which can make approval easier.
If you want to understand the full collateral conversation, the guide on unsecured business loans is worth reading before you apply.
What Type of Loan Can You Get With an LLC?
Most business loan products are available to LLCs. Here's a quick look at the common options:
| Loan Type | Best For | Typical Requirements |
|---|---|---|
|
Business line of credit |
Ongoing working capital needs |
6+ months in business, steady revenue |
|
Short-term loan |
One-time expenses, fast funding |
6+ months, minimum revenue threshold |
|
Long-term loan |
Large purchases, expansion |
2+ years in business, stronger credit |
|
Equipment financing |
Machinery, vehicles, tech |
Equipment serves as collateral |
|
Merchant cash advance |
Revenue-based repayment |
Daily credit card sales volume |
|
Invoice factoring |
B2B businesses with outstanding invoices |
Qualifying receivables |
You can explore the full range of funding options to see which structure fits your situation.
Bank vs. Alternative Lender: What's Realistic for Your LLC?
Banks offer the lowest interest rates, but their requirements are stiff. Most want multiple years of business history, strong personal and business credit, and sometimes collateral or a personal guarantee. If your LLC is newer or your credit isn't spotless, you'll likely get declined.
That's exactly the situation BusinessCapital.com was built for. The minimum requirements are straightforward: you'll need a 500+ FICO score, at least 6 months in business, and $15,000 per month in revenue to qualify. If your LLC meets those thresholds, you can apply and often get a funding decision quickly without the multi-week bank approval timeline.
For a step-by-step look at the full process, the guide on how to get a small business loan walks through exactly what to expect.
Before You Apply: A Few Things to Have Ready
Pulling your application together before you hit "submit" saves time and speeds up approval. Most lenders will want:
- Your LLC's formation documents or articles of organization
- Your EIN confirmation letter from the IRS
- Three to six months of business bank statements
- Your most recent business and personal tax returns
- A voided business check or bank account information
If your business credit is thin, you might also want to review the guide on how to build your business credit score before applying. Even a few months of deliberate credit-building can improve the terms you're offered.
FAQ
Can I get a business loan with just an EIN and no business credit history? Yes, but the lender will rely more heavily on your personal credit score and your business's revenue. Newer LLCs with limited credit history can still qualify with alternative lenders, especially if they have consistent monthly revenue.
Do I need an LLC to get a business loan? No. Sole proprietors and partnerships can also apply for business loans. But having an LLC does help establish your business as a separate legal entity, which some lenders view favorably and which protects your personal assets.
Does my LLC need a business bank account to get a loan? Almost always, yes. Lenders want to see business revenue flowing through a dedicated business account tied to your LLC and EIN. Running revenue through a personal account raises red flags and can get your application declined.
Can I use my EIN to apply for a loan without a personal credit check? With most lenders, no. Even if you have established business credit, lenders typically still pull personal credit for small business loans, especially for newer companies. As your business credit matures, the personal guarantee requirement may ease.
What if my LLC was recently formed? Can I still get funded? Yes, depending on the lender. Banks generally want two or more years of operating history. Many online lenders will work with businesses as young as six months old, as long as revenue is consistent. Check the business loan requirements guide to understand where your LLC currently stands.
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