How to Get a Business Loan in Five Steps

Once you identify a list of potential lenders or hire a broker, get prepared. Do not think that the business loan process is merely a matter or forms and paperwork. While there is more paperwork than you'd ever want to see, it is more of an inquisition. Step four:

4. Be an expert salesperson for your project. Obviously, we think that your should use FundablePlans.com to build a written proposal. Whatever method you use, know your numbers and be able to defend them. Understand your market and be able to speak competently about it. Know your competition. Most importantly, (from step one) know your strengths and weaknesses as a borrower and be able to maximize the strengths and minimize the weaknesses.

If you are successful with steps one through four, you will expect to "hit a home run". You may, but most likely you won't. Step five:

5. Don't give up. Where one lender might have too many loans of your type in her portfolio, the next may need exactly your loan to meet his goals (loan officers are paid to lend). This is not to say that you should "beat a dead horse", but if you have a viable project, a good presentation and good "C's", you will be able to get financing.

Good luck with your project, if you have questions about funding feel free to use the e-mail link below.

About The Author

Dave Miller is a business consultant and the creator of FundablePlans.com, an online business plan builder at http://www.fundableplans.com, dave@fundableplans.xom

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