What a 580 actually rules out
Bank term loans and SBA lending are effectively closed at 580. Most SBA lenders look for 650 or better, and a bank will decline before it looks at your revenue.
A business line of credit is the one non-bank product where score genuinely matters — a revolving facility carries more risk for the lender, so many providers set a floor around 600.
Everything else stays open. Merchant cash advances, working capital loans and equipment financing are all underwritten primarily on revenue, and several providers set no minimum score at all.
What they look at instead
Monthly deposits, and their consistency. Three to six months of statements showing steady money in matters more than any single number on your credit report.
Time in business. Six months of trading opens most options; under that narrows them sharply.
Whether you have existing advances outstanding. Stacking is the single fastest way to get declined, and it is visible in your statements.
Your industry and state, which determine which funders can write your deal at all.
What it costs you
A weaker credit file does not usually change whether you are approved, but it does change the price. Expect a factor rate toward the upper end of the 1.1 to 1.5 range rather than the lower.
On a $50,000 advance, the difference between 1.25 and 1.40 is $7,500 in total repayment. That is worth knowing before you accept the first offer that arrives.
What actually improves the answer
Time and deposits, not credit repair. Another three months of trading history and consistent revenue moves an offer more than a twenty-point score improvement will.
Having your last six months of bank statements ready. It is the slowest step in every application and the one entirely within your control.