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Securing business funding is a detailed process that involves careful planning to improve chances of approval and maximize funding results. The sequence below is a guide to help you think about your own funding strategy.
Pre-Launch Preparation
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Certain banks prefer if you have an established relationship through deposits.
- Follow these steps → easier approvals + higher limits
- Skip this step → denials + tiny limits
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1. PNC Checking Account
- Open a PNC checking account.
- Fund the account with at least $1,000.
- Recommended to apply for funding the next day.
2. Chase Checking Account
- Open a Chase checking account.
- Fund the account with $5,000+.
- Ensure the deposit has been in the account for at least 5 business days before applying.
3. First Citizens Bank Checking Account
- Open a First Citizens checking account.
- Fund the account with $1,000+.
- Keep the account open and active for at least 30 days before applying.
4. US Bank Checking Account
- Open a US Bank checking account.
- Fund the account with $5,000+ (for best results).