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Learn to Impress Lenders

Proper preparation is key when you're angling for money to fund your business.
July 24, 2009
URL: http://www.entrepreneur.com/article/202752

While obtaining a loan may be challenging amid the current economic climate, you can increase your viability as a loan candidate by taking steps to prepare for that initial meeting with a lender.

First, be thorough when preparing documents a lender may request. These include: past financial statements and tax returns, a copy of your current note and payment schedule (if your business is already established), and a detailed business plan.

Your business plan should include:

In addition to preparing a comprehensive business plan, consider these strategies prior to seeking a small-business loan: