Business Loan Fundamentals: What Small Business Owners Need to Know
... Accessing capital for your business can be a daunting task. If you are a start-up business owner, this is even more so. Small business owners who are considering accessing capital are sometimes not sure what to do or where to go. This is understandable. The news media showcases small businesses' inability in securing the financing they need to grow their business or just to survive. In some instances, entrepreneurs are getting funded but not at the level or the amount they really wanted. These business owners have to make adjustments to their plans in order to fit what they can qualify for. One thing to note ... of all, do not waste their time if you know you do not have the information they need. Here is a checklist of items that might be applicable to your loan request: Loan/Lender Application Business License/Certifications Business Overview Business Plan Resumes Personal Financial Statement Personal Credit Report Personal Income Tax Returns Business Credit Report Business Income Tax Returns Business Lease Business Insurance Financial Statements including Cash Flow Statement, Balance Sheet, Profit and Loss Bank Statements Merchant Statements Current Accounts Receivable Aging Report Current Accounts Payable Aging Report Payroll Tax Form 941 Property Ownership Documentation Partnership Agreements ...
Tags: business owners | small business owners | small business | business loan | business owners need | financing |
Tags: business owners | small business owners | small business | business loan | business owners need | financing |