9 Things You Must Do To Maximize Your Chances Of Obtaining A Small Business Loan

 by: Neil Best

To get approval for your small business loan application, you must be able to meet the lending criteria set down. Some organisations are more risk averse than others, and will therefore have more stringent criteria. To vastly increase your chances of a successful funding application, you will need to present the following information:

1. The reason for the loan. The lender will be looking for something that fits within the normal range and expertise of your business. The amount may cover a number of items, so you will need to cover each.

2. The amount required, and the repayment term of the small business loan you want. (e.g. $10,000 term 5 years, payable quarterly).

3. Details of how you will repay the amount borrowed. For example, “From the increase in profits of reduced running costs of the Whizzbang Go4It”

4. Details of security you will be able to offer to the lender. This will act as reassurance for the lender. If you’re not prepared to put up some aspect of security, then why should they?

5. You will need to include your business plan which will serve to answer essential questions relating to management capabilities, information about the market you operate in. What kind of business you are in etc.   (continued...)

9 Things You Must Do To Maximize Your Chances Of Obtaining A Small Business Loan
  Page 2

About The Author

Neil Best

This article and other useful info such as sample business plans, sourcing and applying for small business grants, and how to find and approach potential investors can be found at http://www.smallbusinessfinancetips.com/small-business-loans.html




Additional Government Grants Resources


Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.


Exploratory/Developmental Grants Program for Basic Cancer Research in Cancer Health Disparities
The National Institutes of Health has recently formed a partnership with the National Cancer Institute (NCI) in an effort to constitute the Exploratory/Developmental Grants Program for Basic Cancer Research in Cancer Health Disparities wherein both agencies intend to solicit grant application from various eligible researchers who are interested in conducing basic research studies regarding the biological causes and mechanisms of cancer health disparities.


Free Money Through Grants: Fact or Fiction?
It's posted all over the Internet. You hear it on the radio, and see it on television. The United States government is giving away free money in the form of federal grants. While it's true that the g...


Education Grants for High Achieving Students
Academic Competitiveness Grants assist those undergraduate postsecondary students that have completed a meticulous course of study in high school. Financial grant assistance is provided on need-basis to help these students meet their educational expenses.


Capacity Building Assistance to Improve Health in Tribal Populations Program
In keeping with all its existing programs and objectives, the Centers for Disease Control and Prevention has recently established a funding opportunity to promote the Capacity Building Assistance to Improve Health in Tribal Populations Program.


Pilot Surveillance System for High Impact/Low Prevalence Congenital and Inherited Conditions Program
The Centers for Disease Control and Prevention has recently established the Pilot Surveillance System for High Impact/Low Prevalence Congenital and Inherited Conditions Program wherein it seeks to create and evaluate a surveillance system for congenital and inherited disease conditions.


Department of Agriculture: Value Added Producer Grants
The Value-Added Producer Grants program is geared towards helping the Independent Producers of Agricultural Commodities, Agriculture Producer Groups, Farmer and Rancher Cooperatives, and Majority-Controlled Producer-Based Business Ventures in developing techniques that would create marketing opportunities and establish business plans involving viable marketing opportunities that involve the production of bio-based products from agricultural commodities.






Social Entrepreneurship
Spotlight



Wealthy Resource Generation: Tax Us More!

Wealthy Resource Generation: Tax Us More!
Resource Generation, a group of young people who grew up wealthy, wish to give something back. They...








More Federal Domestic Assistance Programs


Christopher Columbus Fellowship Program | Biomass Crop Assistance Program | Capitalization Grants for Clean Water State Revolving
Funds
 | Invasive and Noxious Plant Management | Boll Weevil Eradication Loan Program |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2017 Copyright Michael Saunders