Business License
Government-issued permission to legally operate a business, required at the local, state, or federal level depending on the business type and location.
Requirements vary significantly by industry, city, and state, some businesses need a single general license while others (like those in regulated industries) need multiple specific permits before legally operating.
A current, valid business license is commonly part of the documentation lenders request during underwriting, confirming the business is legitimately authorized to operate where it claims to be based.
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