The Road Map To Small Business Loans

A great idea pops in your head for your business, your desire booms your plans . Now what else
do you need? Let me think… Oh yeah! Money, right? For that your quest for small business loan
begins.

What Do You Require ?

The first thing you need is a business profile that provides a written description of the history of
your business, including:

1. Type of business
2. Location
3. Product or service
4. Brief history
5. Annual sales
6. Number of employees
7. Proposed future operation
8. Competition
9. Customers
10. Suppliers
11. Date of information

Preparation Encounter

In order to prove you’re well worth a business and that you deserve a small business loan, you
will need to prepare certain documentation . First your credit history is examined by your small
business loan lenders, especially if your business does not have a long operational history . They
will presuppose that you operate your business in the same manner that you manage your
personal finances. So taking your credit history can be a good thing to do ( in the case of banks
and traditional lenders )

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Business Fiscal Statement

You will need to provide complete financial statements for the last three years ( including
balance sheet, income statement and reconciliation of next worth ) plus a current ( approximately
90 days old) interim fiscal statement. Also include a schedule of term debt and aging of
categories. If you are just starting out, providing a project balance sheet and income statement
would be required. The strength and accuracy of your financial statement will be primary basis
for the lending decision, so be sure that your carefully monitoring your fiscal statements before
approval.

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Your Business Life Can Be Made Simpler

Bypassing the traditional lenders and local banks, I suggest you seek a small business loan by
Merchant Advisors who have been in the front line to save small businesses from mayhem of
money required.

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