Apply for Small Business Loans Today

Trenton Small Business Week - Schedule
Obtain a copy of your credit report to ensure that it’s accurate; you may even want to obtain a copy from all major credit reporting companies for your country. Ask the financial institution through which you hope to get a small business loan for a complete list of documents needed to apply for it. Also ask what additional information the lender requires for your loan proposal. Different institutions have different requirements for small business loan applications. Gather the financial documents and information you need.
  • Lenders may request a business plan, the history of the business, information about leased property, the amount business owners have invested in the small business, personal financial statements of the business owners, projections about cash flow and resumes of the business owners.
  • Other information you may need to provide includes three years of financial statements, accounts receivable and accounts payable and a schedule of debts.
  • If you have a start-up business, you may need to supply the projected opening day balance sheet.
  • Write a loan proposal that includes the exact purpose of the loan and the exact amount you need to borrow. Again, each institution will have its own requirements, but additional requirements may include brief biographies of all individuals in management positions, a discussion of your business’ marketing techniques and market position and the legal structure of your business.
  • Set up a meeting with a small business loans consultant at your financial institution and bring all the requested documents and information with you. In the meeting, go over the documents with the consultant to ensure that they are all in order. Though this is an optional step, it can be a good idea if you have not applied for a business loan before.
  • Submit the application and all supporting documents to the correct person or address.
  • Wait to hear from the financial institution.
  • If a lender rejects your application and you are in the U.S., inquire whether it could offer you a loan under the Small Business Administration’s loan guaranty program. Through this program, the SBA guarantees loans that financial institutions couldn’t otherwise afford to make. If the financial institution can do this, give it permission to send your loan application to the SBA, which will review your application in full. If you qualify, the SBA will contact the lender. You will then receive a loan through your local financial institution.
  • If a lender rejects your application and you are located outside of the U.S., ask your financial institution what options are available for you.

2009-02-28 16:51:36 by Cash_4_Ur_Biz

Need $$$ for your small biz?

Hello,
I am the East Coast Regional Representative for RFG Finance Company. I work with various types of merchants in your local area, such as : Clothing Stores, Liquor Stores, Auto Part Stores, Specialty Retail, Restaurants, Bars, Nail Salons, Spas, Motel Owners, Grocers, Franchisees, etc.
In these difficult economic times, business owners may be experiencing difficulty in obtaining bank loans. Our creative financing has helped thousands of business owners nationwide.
We provide unsecured business cash advances from $2,500 to $250,000 or more to business owners nationwide based on their gross sales/credit card sales volume

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