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


National Science Foundation announces the Cyberlearning: Transforming Education Program
The Cyberlearning: Transforming Education is a program wherein the NSF will provide funding for research proposals that aim to explore opportunities associated with the promotion and assessment of learning techniques through the help of new technologies, taking advantage of the application of those technologies, and the utilization of those technologies in the process of promoting deep and lasting learning of content, practices, skills, attitudes, and dispositions that are essential in becoming an engaged and productive citizen.


National Science Foundation: Geoinformatics Solicitation Grant
Geoinformatics is the science and technology of developing and using information service sciences in addressing the problems related to geography, geosciences and other branches associated to engineering.


Centers for Material Life Cycle Safety Program
The United States Environmental Protection Agency has established the Centers for Material Life Cycle Safety Program wherein it intends to solicit applications for the development of interdisciplinary centers that have the capability of focusing on the creation of chemicals, compounds, mixtures of compounds, or products.


How to Apply for a Federal Grant
In this article, we are going to provide you with detailed instructions of how you can flawlessly and successfully submit an application for your preferred funding opportunity.


Grants For Single Mothers
If you are a single mom and struggling to get by, you are not alone. Whether you are going through a divorce or the father is absent most single mother face the burden of supporting themselves and th...


Community College Tuition is Affordable
Community colleges are local colleges that offer two year degrees and certifications. Students can take classes at community college and earn credits toward a two year or four year degree program. C...


Student Loans
Student loans in Canada are provided by a joint Federal and Provincial program with the amount of and eligibility for a loan different between the Provinces and so depends upon the Province you are a...






Social Entrepreneurship
Spotlight



Transforming Community through Photography


Isaac Biosse

Isaac Biosse, a Kenyan-born Ghanaian photojournalist, is also a social entrepreneur.









More Federal Domestic Assistance Programs


 | South Carolina SNAP Recipient Trafficking Prosecution Pilot | Water and Waste Disposal Systems for Rural Communities | Trade Adjustment Assistance Community College and Career Training (TAACCCT) Grants | Family Support Payments to States Assistance Payments |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2019 Copyright Michael Saunders