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


Origin-Destination Database of Border Traffic Flows for Transportation Planning
The Federal Highway Administration has recently announced a cooperative agreement entitled, Origin-Destination Database of Border Traffic Flows for Transportation Planning, to support Ontario's Ministry of Transportation in conducting training workshops focused on data collection, and the process of understanding and maximizing the use of the data collected.


The Role of Private Enterprise in Putting Man into Space
Has NASA, the monolithic space agency, failed in it's quest to put man out into the cosmos? Will profit coupled with man's need to explore be the driving engine which sends man into the cosmos? Think...


Early-Stage Innovative Technology Development for Cancer Research Program
The National Institutes of Health has collaborated with the National Cancer Institute(NCI) in order to establish Early-Stage Innovative Technology Development for Cancer Research Program, wherein both agencies intend to solicit grant applications expressing intents to conduct funded exploratory research projects that concentrate on the inception and development unique, innovative technological advances that could potentially be utilized in the study of cancer.


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.


First Time Homebuyer Programs in New York
The State of New York cares so much about its people. It looks out for them and constantly ascertains that their best interest is always protected. One of the ways in which the state has manifested this concern is through the establishment of the State of New York Mortgage Agency, more commonly referred to as SONYMA, which is a public authority established in 1970 designed to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.


Improving Health of People with Intellectual Disabilities Program
In keeping with this mission, the Centers for Disease Control and Prevention has constituted the Improving Health of People with Intellectual Disabilities Program in an attempt to financially support initiatives for people suffering from intellectual disabilities, thereby seeking to increase healthy behaviors and improve access to appropriate health services.


YouthBuild Grants Program
The Employment and Training Administration has recently established the YouthBuild Grants Program in an effort to financially support organizations that seek to oversee the provision of education, occupational skills training, and employment services to disadvantaged youth in their communities while performing meaningful work and service to their communities.






Social Entrepreneurship
Spotlight



NYC’s First-Ever Conference for Social Impact

NYC’s First-Ever Conference for Social Impact
A group of social entrepreneurs are gearing up to run the first-ever New York City...








More Federal Domestic Assistance Programs


Community Economic Adjustment Assistance for Reductions in Defense Spending | State Mediation Grants | Office of Native American Programs Training and Technical Assistance for Indian Housing Block Grant Program | Volcano Hazards Program Research and Monitoring | Social Services Research and Demonstration |  Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy


Edited by: Michael Saunders

© 2004-2019 Copyright Michael Saunders