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

2012 San Francisco Bay Area Water Quality Improvement Fund
Since the year 2008, EPA has been running the San Francisco Bay Water Quality Improvement Fund Program wherein they administer funds through competitive grant programs in order to encourage and promote the protection and restoration of the San Francisco Bay Watersheds.

---

Human Health and Heredity in Africa: Research Grants Program
The 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.

---

2012 University Center Economic Development Program Competition
The Economic Development Administration has recently established the 2012 University Center Economic Development Program Competition wherein they intend to solicit grant applications from higher education institutions stating their intent to establish and operate special University Centers that are focused on leveraging university assets in order to create regional economic ecosystems that will support high-growth entrepreneurship.

---

Uncle Sam's Money and How to Get a Micro Loan
The US Governement has a MicroLoan Program that provides small loans to new start-up companies, newly established businesses, or loans to help small business growth concerns. Under this government l...

---

How to Get a Government Home Loan with Low or Moderate Income
The government provides loans to those individuals who have low to moderate income for permanent residence in rural areas. To qualify for these government loans is not that hard and the restrictions ...

---

Institutes for Advanced Topics in the Digital Humanities Program
The National Endowment for the Humanities has recently constituted the Institutes for Advanced Topics in the Digital Humanities Program wherein they aim to support regional and national training programs intended for scholars and advanced graduate students in an effort to widen and strengthen their abilities and understanding of digital humanities.

---

Competitive Revision for Technology Development Within Biomedical Technology Research Centers Program
The National Institutes of Health has formed a partnership with the National Center for Research Resources (NCRR) in an attempt to establish the Competitive Revision for Technology Development Within Biomedical Technology Research Centers Program.

---