Proof of funds and account info

February 12, 2026

by a searcher from Massachusetts Institute of Technology - MIT Sloan School of Management in West Palm Beach, FL, USA

A broker is stating that I need to demonstrate proof of funds past the investor letter of support and SBA prequalification letter I've shared with them. They state as follows: "Please ensure the documentation is issued by a verifiable U.S. bank and explicitly lists you as the account holder. You may redact account numbers and other proprietary details as needed." Is this commonplace? If an investor letter of support and pre-qual letter are not enough, should I just move on from this opportunity? Please advise.

Reply by an investor
from Columbia University in Fairfax, VA, USA

^redacted‌ Unfortunately, this may be one you have to move on from. In our experience, there's a spectrum when it comes to “certainty of close” expectations... some brokers are reasonable, and others sit on the far end and try to screen out anyone they perceive as a potential financing risk. One idea for you: It may be worth engaging with groups like ^redacted‌ and ^redacted‌ over at Entrepreneurial Capital. Certain institutional funds (who focus on Self-funded Searchers) that agree to look at your deals can provide a stronger financing signal that often carries more weight than a standard pre-qual or letter of support from non-institutional investors. There are other funds as well, but they're not on Searchfunder. Feel free to DM and I can point you to them.

Reply by an intermediary
from University of Georgia in Atlanta, GA, USA

Many times it is a seller request. If they want certainty of closing the deal, they will ask for proof of funds. We ask when it is needed. Firms that have a track record are easier to bypass the requirement.

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