If you’re an existing business, banks want to see that you have demonstrated cash flow sufficient to make your monthly loan payments, Singer said. They’ll do this analysis by looking at your past tax returns and existing debt. Singer added that if you’re buying a business or starting one from scratch, you should be able to show detailed financial projections. Provide a financial plan that clearly illustrates you’ll be able to make your monthly loan payments. Editors Note: Looking for a small business loan for your business? If youre looking for information to help you choose the one thats right for you, use the questionnaire below to have our sister site, BuyerZone, provide you with information from a variety of vendors for free: 5. Be prepared to outline your professional background. Lenders will be interested in your business, but they’ll also take a good look at you, Singer said.
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