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
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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

First Time Homebuyer Programs in Georgia
The state of Georgia offers a variety of programs to assist first time home buyers. The programs are offered primarily through the Georgia Department of Community Affairs.

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Department of Housing and Urban Development: Energy Innovation Funds for Multifamily Pilot Program
Pursuant to the Consolidated Appropriations Act of 2010, the Department of Housing and Urban Development(HUD), has recently announced a funding opportunity entitled Energy Innovation Fund: Multifamily Pilot Program.

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Academic-Community Partnership Conference Series Program
In line with this mission, the National Institutes of Health has recently formed a partnership with the The Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD) to establish the Academic-Community Partnership Conference Series Program wherein both agencies seek to solicit grant application that intend to conduct health disparities-related meetings, workshops, symposiums.

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Agriculture Loans From GovLoans
Are you a farmer or a rancher who is tired of scouring the world wide web for benefits and loans from the United States Government only to find yourself annoyed and frustrated due to the rather complex and confusing process of looking through hundreds of pages from numerous websites?

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Rheumatic Diseases Research Core Centers Project
The National Institutes of Health, in close cooperation with the National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), has established a program entitled Rheumatic Diseases Research Core Centers Project wherein they intend to solicit applications for the development of Research Core Centers concentrating on rheumatic diseases.

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Keystone Home Loan Program For First Time Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency, more commonly referred to as PHFA, is an independent agency that was established in the year 1972 in an effort to contribute to the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

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Health Resources and Services Administration: Affordable Care Act - Immediate Facility Improvements Program
The HRSA administers health care grants to eligible individuals, in order to help them obtain safe and quality care through the Affordable Care Act Capital Development (Immediate Facility Improvements Program).

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