Must have’s prior to submitting a business loan applications are: 

First and foremost, prior to approaching a bank, you should have all your key documents in order, starting with a solid loan package and business plan. You will also need to have your most recent financial statements available, projections for the business (this will be addressed in our business plan builder), and a repayment plan, plus collateral. Collateral may include: Hard goods such as equipment; Real estate; Stocks or bonds; Other personal assets; Personal guarantees. 

Banks also want to know that you’re making your own investment in the business. A bank is more likely to approve a loan if (pending a solid business plan) it sees that the owners are investing a good percentage of the necessary startup capital into the business.