Time in business: This is one of the key factors in determining your cost of funds. The longer you have been in continuous business, under the same name, the less risk you exhibit during underwriting. If you are a sole proprietorship, it is important to have formal documentation of how long you have been in business, as typically these entities are not registered with your Secretary of State. This should be evidenced through one or more, various city or state forms such as; a DBA Filing, Business License or Registration, Schedule C page of your tax filings, an old bank account statement, or even an old insurance certificate.
