When applying for a small business loan, your company will likely need to present both a solid credit history and a good account of your financial status. You must show both a track record of repayment and the ability to repay a loan, depending upon the small business loan program you plan on applying for. You should be prepared to present security for the loan, to reassure the lender that they will have something to compensate them within the event that you are unable to pay the loan back. Finally, you will also need to submit your small business plan for approval, to convince the lender of your ability to manage the money. These important items should aid your acquiring a small business loan for your company.
You can also take advantage of the Small Business Startup Assessment Tool below and see the tools and resources you need to succeed at launching your business. It takes just a minute and will also tell you if there may be any funding programs available.