Business Loan Application 101

Looking to get a business loan to keep your business restarted? Here are a few pointers.

In it, CPA Juanita Farmer shares some tips. Here’s one that we thought was particularly helpful:

Your loan request should be based on and accompanied by a complete business plan. This document is the single most important planning activity that you can perform. A business plan is more than a device for getting financing; it is the vehicle that makes you examine, evaluate, and plan for all aspects of your business. A business plan’s existence proves to your banker that you are doing all the right activities. Once you’ve put the plan together, write a two-page executive summary. You’ll need it if you are asked to send “a quick write-up.”

It’s a pretty comprehensive piece so do give the full article a read. Just click on this link to gain access to it.