About Lesson
How To Prepare A Small Business Loan Package
Your business loan package should downplay the potential risks your business faces and focuses instead on the its tremendous growth potential. Your character and that of your business, as well as any collateral, will be strongly evaluated and the cashflow of your business will be scrutinized carefully. Existing businesses are more likely to be approved than new ones, but start-up’s have a chance as long as you can prove your worth.
While the process of creating a detailed loan package can be time consuming, frustrating and intimidating, as long as you are informed and well prepared, your chances of securing the needed capital are greatly increased.
Both traditional and nontraditional lenders require specific information from prospective borrowers…
To help assist you in making the most effective presentation, in the next section you’ll notice that we have prepared a list of information and documents that should be included in your loan package.