Buy Complete B-Plan Templates
Complete Industry Research
3 Year Financial Model
Lender Directory Included!
Just $18.95
Buy Complete B-Plan Templates
Complete Industry Research
3 Year Financial Model
Lender Directory Included!
Just $18.95

Your Resource for Obtaining Business Financing



Despite the fact that you may own a growing business, have a great credit score, and are a competent business person – obtaining a business loan, business line of credit, or other type of credit facility in today’s economic environment has become increasingly challenging. While the federal government has made great strides to keep interest rates low, lenders (including banks, financing companies, and private lenders) have kept lending approval rates at historical lows. This has been especially true for small business borrowers. Recent statistics show that some financial institutions have cut their small business loan portfolios by more than 20% over the past year. This trend is expected to continue among lenders until substantial improvement in the general economy becomes widespread and apparent.

 

When approaching a potential lender for obtaining a business loan or other type of business financing facility – it is imperative that you have all of the appropriate documentation in place for them to effectively render a lending decisions. This most important of these documents is your business plan. A well written business plan for obtaining a business loan focuses on your business, what you intend to do with the debt funding, and how you will ultimately payback the loan over a certain period of time. You should be immediately aware that while interest rates have remained low via actions by the US Federal Reserve, the interest rates applied to traditional business loans and business credit lines has increased significantly. This is especially true if the business loan that you are seeking is not an SBA backed business credit facility.


As business loan terms and covenants have become more complex given the struggling economy, you should be prepared to clearly showcase every aspect of your business to a potential lender. This website will assist you in developing a competent business plan that can be presented to a business loan lender. We will also discuss a number of topics including alternatives to traditional business loan financing, using the Small Business Administration to help with your capital raising activities, and other methods of business financing.



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