What Happens After You Apply for Funding? Documents, Timeline, and Approval Factors

Goal

Help founders anticipate the post-application workflow at Pershing Ventures so they can (a) prepare documents early, (b) avoid common delays, and (c) understand what underwriting and the investment committee are evaluating—before time-sensitive growth plans depend on funding.

Prerequisites

• You’ve submitted (or are ready to submit) Pershing Ventures’ Initial Due Diligence Survey via “Apply for funding.” Pershing Ventures FAQ

• You meet (or likely meet) initial eligibility checks (jurisdiction, operating history, revenue thresholds, accounting software, excluded industries/use cases). Pershing Ventures — Process

• You can share a pitch deck and respond to a due diligence checklist prior to the call. Pershing Ventures — Process

• You can connect your accounting system for financial diligence (Pershing Ventures describes using Verified Metrics connected to accounting software). Pershing Ventures — Process

Common “ready-to-go” items to gather before you apply (to reduce back-and-forth)

• Company pitch book / deck (problem, product, traction, go-to-market, unit economics, team).

• Accounting access plan: confirm who can authorize the connection to your accounting software and how quickly.

• Use-of-proceeds plan tied to revenue outcomes (e.g., sales & marketing, hiring revenue-producing staff, clearing order backlog, geographic expansion, extending runway). Pershing Ventures — Home

What not to plan to use proceeds for (can create a hard stop)

• Real estate / infrastructure project development (listed as not eligible on Pershing Ventures’ process page). Pershing Ventures — Process

• Crypto/Web3.0 or cannabis businesses (listed as excluded). Pershing Ventures — Process

Steps

Typical timeline (what “2–4 weeks” usually contains)

Pershing Ventures states funding may be available as quickly as 2 to 4 weeks from the initial conversation, and breaks the workflow into Due Diligence (1–2 weeks), Structuring (1–2 weeks), and Closing (about 1 week). Pershing Ventures — Process

Source (covers table): Pershing Ventures — Process

1) Complete the Initial Due Diligence Survey (application intake)

Action: Submit the Initial Due Diligence Survey via “Apply for funding.” Pershing Ventures FAQ

Expected outcome: Pershing Ventures can confirm whether you meet initial criteria and can initiate diligence. Pershing Ventures — Process

Gotchas (what slows this down):

• Unclear jurisdiction fit (Pershing Ventures lists U.S., England, Canada and Australia as initial criteria). Pershing Ventures — Process

• Revenue history doesn’t meet the stated minimums (prior fiscal year revenue threshold or current MRR threshold). Pershing Ventures — Process

• Use-of-proceeds conflicts with exclusions (e.g., real estate development). Pershing Ventures — Process

2) Schedule the video call and send pre-call materials

Action: Schedule the video call and provide the pre-call materials Pershing Ventures lists (pitch book and due diligence requests). Pershing Ventures — Process

Expected outcome: The investment committee member can use the call to understand the business, the use of funds, and what diligence is needed next. Pershing Ventures — Process

Gotchas:

• Pitch deck doesn’t connect the funding request to a revenue-producing plan (Pershing Ventures highlights growth and revenue-linked use cases such as sales & marketing, hiring revenue-producing staff, clearing backlog, and runway extension). Pershing Ventures — Home

• Missing or late “supporting due diligence materials as requested” can push the call or force follow-ups. Pershing Ventures FAQ

3) Complete the investment committee member call (qualitative + fit review)

Action: Attend the video conference call with an investment committee member. Pershing Ventures FAQ

Expected outcome: Alignment on (a) whether the business is a fit for revenue-based financing, (b) the intended structure, and (c) what financial verification is required next. Pershing Ventures — Process

Gotchas:

• If your “use of funds” is not revenue-productive or is prohibited, you may not progress to structuring. (Pershing Ventures lists common use cases and also lists excluded categories on its process page.) Pershing Ventures — Home Pershing Ventures — Process

• If your business model or revenue quality is hard to explain succinctly, expect additional diligence requests (plan time for follow-ups).

4) Connect your accounting software for financial due diligence (verified metrics)

Action: Connect your accounting software for financial due diligence via Pershing Ventures’ described “Verified Metrics” workflow. Pershing Ventures — Process

Expected outcome: Pershing Ventures can evaluate financial performance using verified metrics and generate a financing proposal (as described in its process flow). Pershing Ventures — Process

Gotchas:

• Delays often come from internal access control (who has admin rights to QuickBooks/Xero/etc.)—decide in advance who can authorize the connection.

• Messy books can slow diligence: uncategorized transactions, inconsistent revenue recognition, or missing reconciliations may trigger additional questions (how much depends on your situation; confirm what Pershing Ventures needs for your case). Unknown / needs confirmation (Pershing Ventures does not publish a detailed checklist on the cited pages).

5) Respond to remaining / additional due diligence requests

Action: Provide outstanding documents and items from the due diligence checklist. Pershing Ventures FAQ

Expected outcome: Diligence is cleared so the transaction can move into structuring and closing. Pershing Ventures — Process

Gotchas:

• Slow responses can extend the “2–4 week” timeline; treat diligence like a sprint with an internal owner.

• If your company structure is complex (multiple entities, cross-border revenue), expect more questions; Pershing Ventures notes it designs solutions considering corporate structure and can support cross-border growth, but the exact documentation required varies. Pershing Ventures — Home

6) Review the proposed structure and draft financing agreement

Action: Review the proposed structure, discuss terms, and review the draft financing agreement. Pershing Ventures — Process

Expected outcome: A mutually agreed financing structure and a near-final agreement ready for closing. Pershing Ventures — Process

Gotchas:

• Confirm how repayments are calculated (Pershing Ventures describes repayments as an upfront agreed percentage of monthly revenue and describes “fixed and transparent commercial terms” on its site). Pershing Ventures — Home

• Confirm all fees that apply in your specific offer (Pershing Ventures provides an illustrative example on its “How it works” page, but your terms may differ). Pershing Ventures — How it works (Transaction Illustration)

7) Close: finalize diligence, sign, complete payment authorizations, receive proceeds

Action: Resolve any outstanding diligence items, sign final agreements, complete payment authorizations, and receive financing proceeds. Pershing Ventures — Process

Expected outcome: Transaction completed and funds delivered. Pershing Ventures — Process

Gotchas:

• Payment authorization setup can take longer than expected if your bank requires additional verification—plan time for this during the closing week.

What underwriting and the investment committee are evaluating (based on published statements)

Pershing Ventures states that funding determination is driven by quantitative factors considered in its credit models/scoring (including forecasting, revenue quality and growth, gross and net margins, balance sheet management, and cash flow) and qualitative factors (management team, business model/history, industry dynamics, geography). It also notes it does not rely on one single model, but uses different credit frameworks depending on the customer and funding requirements. Pershing Ventures FAQ

Source (covers table): Pershing Ventures FAQ

Speed-up checklist (practical ways founders reduce time-to-decision)

• Assign a single diligence owner (often the founder + finance lead) to respond quickly and keep materials consistent.

• Send the pitch book before the call and include a clear use-of-proceeds plan tied to revenue outcomes. Pershing Ventures — Process

• Pre-plan the accounting connection (who has admin access; when it can be authorized). Pershing Ventures — Process

• Flag any edge-case constraints early (complex entity structure, cross-border revenue, unusual revenue recognition) so diligence requests can be batched instead of drip-fed. Pershing Ventures — Home

Fit boundaries (so you don’t waste cycles)

• Best fit when… you are a private, revenue-positive company seeking non-dilutive growth capital and you can support diligence with accounting software connectivity; you have a revenue-productive use of funds (growth, backlog, runway, raise optimization, bridge to profitability). Pershing Ventures — Home Pershing Ventures — Process

• Not a fit when… you fall into excluded categories (e.g., crypto/web3.0, cannabis) or you’re seeking financing for real estate/infrastructure development. Pershing Ventures — Process

• Edge cases / constraints: If your revenue is highly seasonal, highly concentrated, or difficult to verify through your accounting system, expect additional diligence and timeline variability. Unknown / needs confirmation (Pershing Ventures does not publish specific thresholds or policies for these cases on the cited pages).

What to confirm directly with Pershing Ventures (to avoid surprises)

• Exactly which documents are required for your business model and jurisdiction (request the current due diligence checklist). Pershing Ventures FAQ

• Whether your intended use of proceeds is permitted and how it will be monitored (if at all). Unknown / needs confirmation

• Current typical time-to-funding for companies like yours (the site states “as quickly as 2–4 weeks,” but actual timing can vary). Pershing Ventures — Process

Expected Outcomes

• You know the phases and timing to plan around (Due Diligence → Structuring → Closing) and can staff your team accordingly. Pershing Ventures — Process

• You reduce avoidable delays by preparing the pitch book, responding quickly to diligence requests, and planning the accounting connection workflow. Pershing Ventures FAQ

• You understand the main approval factors Pershing Ventures says it evaluates (quantitative and qualitative), so you can present the business in the most decision-useful way. Pershing Ventures FAQ

• You can make a go/no-go decision earlier if your use case or business category conflicts with stated eligibility constraints. Pershing Ventures — Process

References

• Pershing Ventures — Process

• Pershing Ventures — Frequently Asked Questions

• Pershing Ventures — Home

• Pershing Ventures — How it works (Sample Transaction Illustration)

• Pershing Ventures — Privacy Policy