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


Combating Autism Act Initiative: National Interdisciplinary Training Resource Center Program
In keeping with this mission, the Health Resources and Services Administration has recently announced the establishment of the Combating Autism Act Initiative: National Interdisciplinary Training Resource Center Program wherein it aims to solicit applications from eligible entities that seek to run and manage a National Interdisciplinary Training Resource Center.


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.


Cancer Research Network: a Research Resource within Health Care Delivery System
In cooperation with the National Cancer Institute, the National Institute of Health has recently announced a funding opportunity to support the Cancer Research Network(CRN) in its quest in reshaping the its organization to become a more broader resource for cancer researchers.


Grants From The Department of Agriculture
The US Department of Agriculture aims to achieve this mission by way of programs, including grants, loans and other forms of financial assistance that are made consistently made available to farmers and eligible agricultural sectors.


Urban Waters Small Grants Program
The United States Environmental Protection Agency has recently constituted the development of the Urban Waters Small Grants Program wherein it seeks to solicit project proposals from eligible applicants who wish to contribute to the improvement of water quality in urban areas.


Distance Learning College
You might be at a crossroads in your life. You might realize that you need your Associate's degree or Bachelor's degree to land that exciting and high-paying job you have always wanted. You might rea...


What You Need To Know About Benefits.Gov
Benefits.gov has been consistently working towards offering hassle-free, improved and personalized service to the citizens of the United States in the process of finding programs and activities that would greatly benefit them and their families.






Social Entrepreneurship
Spotlight



Chocolates, Farmers and Social Enterprise


Chocolates, Farmers and Social Enterprise

Social entrepreneur Virginia de Villa seeks to improve the agricultural sector through her social enterprise, Real Cacao.









More Federal Domestic Assistance Programs


Rural Health Care Services Outreach and Rural Health Network Development Program | Lake Champlain Basin Program | Aeronautics, Recovery Act | State Domestic Preparedness Equipment Support Program | Health Promotion/Disease Prevention Program for American Indians and Alaska Natives |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2020 Copyright Michael Saunders