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

2013 Mid-Atlantic Research Set-Aside Program
The Mid-Atlantic Fishery Management Council has recently established the 2013 Mid-Atlantic Research Set-Aside Program wherein it intends to solicit proposals that can successfully and efficiently address the Mid-Atlantic Research Set-Aside priorities relating to summer flounder, scup, black sea bass, longfin squid, Illex squid, Atlantic mackerel, butterfish, and bluefish.

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National Leadership Grants
The Institute of Museum and Library Services has been running the National Leadership Grants Program in an effort to address the issues and concerns that stand in the way of libraries, museums, and other archive centers or fields.

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Scale-Up of Care and Support Services for Orphans and Vulnerable Children in Nigeria
The USAID office in Nigeria has recently established a program called Scale-Up of Care and Support Services for Orphans and Vulnerable Children wherein it intends to improve the health and well-being of orphans and vulnerable children in Nigeria by way of developing a sustainable, comprehensive and coordinated program that will potentially help these kids live a normal, and healthy life.

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Grants From The Department of Justice
The DOJ was initially established to ensure the enforcement of the law and administration of justice, which is equivalent to the justice or interior ministries of other countries all over the world.

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Shared Instrumentation Grant Program
The National Institutes of Health has recently established the Shared Instrumentation Grant Program wherein they intend to solicit applications from NIH-supported research proposing to upgrade or purchase a single piece of expensive instrumentation (useful to the field of science and technology) that at a minimum costs $100,000.

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Looking for College Grants?
Grants are a type of student aid that is awarded by the government. Grants for college students do not have to be repaid. Grants are based upon financial need, as calculated by the federal aid progr...

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Government Grants Within The United States Science and Technology Sector
The United States of America prides itself as one of the most technologically-advanced countries in the world. Boosting some of this generation's biggest state-of-the-art research laboratories, the United States government is constantly looking for ways to support and improve the nation's science and technology sector.

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