9 Things You Must Do To Maximize Your Chances Of Obtaining A Small Business Loan
Page 26. 3 Years financial statements. You will need to present quality financial information from your accounting software, preferably signed off by your accountant or tax advisor.
This short video describes the most popular Small Business Administration loan program, the 7(a) loan. |
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7. Latest Set of Management accounts. Again produced from your accounting software.
8. Accounts receivables (debtors) and payables (creditors) ageing reports.
9. Principals financial statements. – Particularly required if some form of security is necessary.
If you are a new company, the emphasis is going to be on your business plan , and the security (also called collateral) you or your business can provide against the loan.
You must take the time to practice presenting your case to the bank or lender to iron out any glitches. Practice on your colleagues and family (you never know, they might be so impressed, they'll invest or lend!). It may help to role play the lender and come up with as many pointy questions as possible. The more time you take the better your chances will be. (But remember, don’t fall into the analysis paralysis trap!)
Good luck!
9 Things You Must Do To Maximize Your Chances Of Obtaining A Small Business Loan
Back to Page 1Additional Government Grants Resources
2012 Scallop Research Set-Aside ProgramThe Department of Commerce, in cooperation with the National Marine Fisheries Service (NMFS) and the National Oceanic and Atmospheric Administration (NOAA), has recently established a project entitled 2012 Scallop Research Set-Aside Program.
Grants from the US State Department for Media Training Workshops in TunisiaThe office of the US Mission to Tunisia, which is under the DoS, is seeking applications for the Media Training Workshops program for the Tunisian people through the The US Embassy in Tunis, Tunisia.
Cancer Research Network: a Research Resource within Health Care Delivery SystemIn 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.
Government Grants - What are they and how to get them ?None of these Government Grants require a credit check, collateral, security deposits or co-signers, you can apply even if you have a bankruptcy or bad credit, it doesn't matter. Its Free Money Never...
Exploratory Grant Award to Promote Workforce Diversity in Basic Cancer ResearchThe National Institutes of Health has formed a partnership with the National Cancer Institute(NCI) in an effort to establish the program entitled Exploratory Grant Award to Promote Workforce Diversity in Basic Cancer Research.
Government Grants Within The United States Transportation SectorGetting from point A to point B could be both the simplest and most complex issues to ever grace the existence of mankind. Though for the any government, especially the United States government which takes pride in the constantly ensuring the safety and welfare of its people, the issue of transportation is an entirely different story.
Human Health and Heredity in Africa: Research Grants ProgramThe Human Health and Heredity in Africa: Research Grants Program wherein they intend to invite applications from foreign institutions that are based in African countries who have the desire to conduct scientific studies regarding the genomic/genetic/environmental contributors of human health and diseases which are common in Africa.