Small Business Loan

How do I apply for a small business loan?

Small business owners typically turn to their local banker for a small business loan. However, there are other very good financial options. Whoever you seek out for funds will require a business proposal for the loan, which is a specific outline of exactly how the funds will be used.

Things you should include in your small business loan proposal:

• Description of your business: Give a brief history of your business. Include the product or service you intend to provide, a plan of operation for the immediate future, your current customers as well as your competitors.
• Management Experience: A brief resume of each owner of the business and the key personell.
• Personal Financial Statements: Financial Statements of all principal owners. Each owner should also provide federal income tax returns from the previous year.
• Loan Repayment Plan: Describe in detail your plan of repayment for the small business loan. Utilize time lines, budgets, and cash-flow schedules to support your plan.
• Pro-forma balance sheet: Provide a current balance sheet showing owners equity in comparison to any outstanding debt against the business.
• This should include expected earnings and expenses in a profit/loss format. Provide explanations as well as assumptions used to arrive at your numbers.
• Loan Collateral: What assets or property do you have that can be used as collateral against the small business loan.
• Other important documents: Documents to consider are: licenses, leases, purchases, partnership or franchise agreements, contracts, and any letters of intent or reference.

Why do I have to provide so much information for a small business loan?

Lending institutions need to be assured of their investment. They must determine if your business will generate the revenue needed to repay their small business loan. The information you provide will help them determine if your business is a good risk.

Yahoo -

• Ad Title: Personal Loan-Payday Loan Wired To You
  No Fax Payday Loan Wired To You In 1 Hour. No Credit Check. Low Fee.
  Domain: payday-usa-loans.com
• Ad Title: Small Business Loans
  $50K & Up, unsecured Business Loans, 680+ Personal Credit, no startup.
  Domain: commercialloansolutions.net
• Ad Title: Financing for Small Businesses
  Get cash now and automatically repay using future credit card sales
  Domain: americancapitaladvance.com
• Ad Title: Unsecured Loans & Credit Lines
  Business Loans & Credit LInes $10K-$150K No Collateral Required.
  Domain: unsecuredsolutions.com
• Ad Title: Small Business Loans
  $10K-$150K. No collateral required. Start-ups ok. Good credit program.
  Domain: AmOne.com
• Ad Title: Very Fast Payday Loan
  No Fax.Payday Loan Wired To You In 1 Hour. No Credit Check. Low Fee.
  Domain: fast-wire-loan.com
• Ad Title: No Faxing Payday Loans up to $1500
  Get Your Loan in Seconds.No faxing required for qualified applicants.
  Domain: LogLoan.com
• Ad Title: Fast Easy Payday Loan
  Get up to $1500 wired to your bank account in one hour. Low fees.
  Domain: loanp2002.com
• Ad Title: Cash In 72 Hours
  Unsecured Business Loans Must have accepted Visa/MC for 1 yr.
  Domain: merchantloans.com
• Ad Title: Looking for a Loan
  Apply now for fast loan results, Bad credit applicants approved today.
  Domain: winchesterfg.com
• Ad Title: Payday Loan Fast and Easy
  No Fax.Payday Loan Wired To You In 1 Hour. No Credit Check. Low Fee.
  Domain: SuperLoansSite.com