Business is booming. That’s a good thing, right? Not if you can’t keep up with demand. Maybe it’s time to expand. But that means a visit to your local lending institution to secure the funds. For some, that’s a daunting experience, especially if you’re not prepared. So, how do you get a loan?
While every lending institution has its own requirements, the Small Business Administration has identified typical items that will be required for any small business loan application:
In addition to these documents, be prepared to answer questions such as: Why are you applying for the loan? What will the money be used for?
Need more information? Go to SBA.gov.