Looking for a business loan? Make sure your potential lenders have all the information they need.
Lenders typically evaluate four key factors:
- previous business experience
- ability to repay the loan
- collateral and personal guarantee
- character
Prepare your documents thoroughly. You should your business plan, balance sheet, cash flow statement, income statement, personal financial statements, personal and business tax returns, as well as a description of the terms and amount of the loan, including how it is used, be saved and recovered.
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