When completing your Slash onboarding application, or when signing up for any business bank account, it is possible that at some point you will be asked to submit a certificate of good standing. This article will cover:
What is a certificate of good standing?
What does “good standing” mean?
Why will Slash ask you to submit a certificate of good standing?
How to obtain your certificate of good standing?
What is a certificate of good standing?
A Certificate of Good Standing is an official state-issued document confirming your business is legally authorized to operate within that state. It doesn't explicitly show if you owe any back taxes, but it does verify that you've been meeting essential state requirements—such as keeping up with annual filings, fees, and other regulatory obligations.
Simply put, having a Certificate of Good Standing proves your business is both active and compliant. For most businesses, it's a crucial piece of documentation required for opening bank accounts, applying for loans, obtaining business credit cards, and more. Financial institutions and creditors typically won’t engage with businesses that can't verify their status.
Think of your certificate as a snapshot of your business’s overall health. Because this snapshot reflects your standing at the time of issue, Slash and other financial institutions will typically require certificates issued within the past 30 to 90 days. Keeping yours updated not only simplifies applications but also helps establish credibility, build trust, and ensure smoother interactions with partners and institutions.
What does “good standing” mean?
Being in “good standing” generally means your business has met all the required state obligations and is actively maintaining compliance. While specifics can vary slightly from state to state, good standing typically means you have:
Filed all mandatory annual or periodic reports.
Paid required fees and other regulatory payments on time.
Maintained accurate and current records with your state’s business registry.
and more
Why will Slash ask you to provide a certificate of good standing?
As mentioned above, similar to other financial institutions, Slash requests this certificate to confirm your business is legally registered, active, and compliant with all necessary state obligations. We’re unable to approve accounts for businesses that are inactive, dissolved, unregistered, or behind on state filings and taxes. This requirement ensures helps us confirm your company’s legitimacy, reduces potential risks, and ultimately helps maintain trust between you, Slash, and your business partners.
How to obtain a certificate of good standing?
Typically, obtaining your Certificate of Good Standing is straightforward and involves interacting directly with your state government’s business office—usually the Secretary of State’s website. Alternatively, you can also simplify this step by working through a registered agent or third-party service provider.
Visit your state's official website
Navigate directly to your state’s Secretary of State website (or an equivalent agency which issues the certificate in your state) and look for sections labeled "Certificates of Good Standing," "Certificate of Existence," or similar terminology.
Verify your business status
Before requesting the certificate, it’s wise to confirm your business is currently in good standing. Most states offer an online business entity database—simply enter your legal business name to check your compliance status.
Request and pay for the certificate
You'll typically need to provide basic details like your business name and registration number. States usually charge a small fee—ranging from around $10 to $50. Once you've paid, most states provide instant digital access to your certificate. If preferred, you may request a physical copy by mail, although this usually takes a few additional days.
Cost in Delaware: $40 to $50
Cost in New Jersey: $25 to $100
To put it all together, a Certificate of Good Standing is an essential document demonstrating that your business is active, legally registered, and compliant with state obligations. Slash and other financial institutions rely on it to verify your credibility, streamline onboarding, and ensure smooth financial transactions.