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#6 Plan a Presentation and Make the Appointment

Wednesday, May 30, 2018, 11:40 AM

Prepare a presentation of your business plan and application for your loan officer. Be sure and include an Executive Summary. Many loan officers read the Executive Summary first and decide whether they are interested based on that. Make an appointment with your loan officer and request enough time to do a short presentation, with visual aids, based on your business plan. Be short, brief,
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#5 Prepare Your Business Plan

Wednesday, May 30, 2018, 11:36 AM

This may be your most important step. In order to get a small business loan from just about any lender, you have to prepare a good business plan. The business plan is in addition to the loan application required by the financial institution. It will also include a statement of collateral or the type and value of assets you will use to secure the loan.
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#4 Start Reviewing Your Borrowing Options

Wednesday, May 30, 2018, 11:33 AM

Look at the commercial banks available to you. Don't just go to the large, national commercial banks. You may have a better chance for a loan at the smaller regional commercial banks. There are other options such as microfinance loans that make loans to startups. If one lender turns you down, another may say yes to the same loan application so keep trying.

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