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

Targeting Persistent HIV Reservoirs Grant Program
In keeping with this mission, the National Institutes of Health has recently formed a partnership with the National Institute of Allergy and Infectious Diseases (NIAID) and the National Institute of Mental Health (NIMH) in order to establish the Targeting Persistent HIV Reservoirs Grant Program.

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First Time Homebuyer Programs in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is a self-supporting quasi-public housing agency operating within the State of Connecticut. The agency was established in the year 1969 in an effort to address the concerns regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

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National Institute of Food and Agriculture: Community Food Projects Competitive Grants Program
NIFA has recently constituted the Community Food Projects Competitive Grants Program (CFPCGP) wherein they plan to administer grants amounting to $5,000,000 to be utilized in funding the project.

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HIV Innovations for Improved Patient Outcomes for Priority Populations Program
The United States Agency for International Development in South Africa has recently established the HIV Innovations for Improved Patient Outcomes for Priority Populations Program wherein it intends to solicit applications coming from local organizations which are interested in heading the implementation of a five-year plan centered on the program in focus.

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Low-Income Housing Repair Loans and Grants
The United States Office of Rural Development has been running the Low-Income Housing Repair Loans and Grants program wherein they intend to assist very low-income income homeowners in rural areas in the difficult and costly process of putting their homes up for repair.

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Effects of Adolescent Binge Drinking on Brain Development
The National Institutes of Health, in close cooperation with the National Institute on Alcohol Abuse and Alcoholism (NIAAA) has established the Effects of Adolescent Binge Drinking on Brain Development Project.

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Telehealth Resource Center Grant Program
The Health Resources and Services Administration has recently constituted the establishment of the Telehealth Resource Center Grant Program, also referred to as the TRCGP.

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