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

Strategic Alliances for Medications Development to Treat Substance Use Disorder Program
The National Institutes of Health, in cooperation with the National Institute on Drug Abuse (NIDA), has recently established the Strategic Alliances for Medications Development to Treat Substance Use Disorder Program wherein both agencies seek to support the development of substance abuse drugs by leveraging the strengths of two or more organizations toward a common goal of medications development.

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Core Clinical Centers for the Cardiothoracic Surgical Trials Network Program
In keeping with this mission, the National Institutes of Health has partnered with the Canadian Institutes of Health Research (CIHR), the National Heart, Lung, and Blood Institute (NHLBI), and the Institute of Circulatory and Respiratory Health (ICRH) to establish the Core Clinical Centers for the Cardiothoracic Surgical Trials Network Program.

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Federal and State Technology Partnership Program
The Federal and State Technology Partnership Program works around the objective of being able to boost and strengthen the technological competitiveness of small business establishments in the United States of America.

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Identifying Heart, Lung, and Blood Disease-Causing Variants
The National Institutes of Health has formed a partnership with the National Heart, Lung, and Blood Institute to establish a program that aims to Identify Heart, Lung, and Blood Disease-Causing Variants.

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SunShot Concentrating Solar Power Research and Development Project
EERE has established a funding opportunity to support the SunShot Concentrating Solar Power Research and Development Project wherein it aims to fund revolutionary applied scientific research studies that will help develop highly disruptive Concentrating Solar Power (CSP) technologies in order to help meet the 6 cents per kWh cost target by the end of the decade.

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Improving Health of People with Intellectual Disabilities Program
In keeping with this mission, the Centers for Disease Control and Prevention has constituted the Improving Health of People with Intellectual Disabilities Program in an attempt to financially support initiatives for people suffering from intellectual disabilities, thereby seeking to increase healthy behaviors and improve access to appropriate health services.

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Jail Resource Management: Review and Revision Program
The Federal Bureau of Prisons has recently constituted the development of the Jail Resource Management: Review and Revision Program wherein it intends to solicit applications for the revision of its existing Jail Resource Management Training Program.

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