A business bank account is required to receive funding. It also helps verify your business's cash flow and financial history, which can strengthen your application and speed things up. The good news is that it is straightforward to open one. Most banks let you apply online or in person. Here is what you will typically need to have ready:
Your EIN (federal tax ID issued by the IRS), or SSN if you are a sole proprietor
Your business formation documents (like your LLC or corporation paperwork)
An ownership agreement outlining the rights of each business owner
A government-issued ID
Your business license, if required by your state or locality
Once you have those documents together, just pick an institution that fits your needs and apply.