Are you purchasing real estate or buying a truck? Perhaps you simply need the capital to make an acquisition. No matter the purpose, have a firm idea of why you need the money and how you’ll use it, Singer advised. Be able to clearly present the use of your funds and the specifics of how the money will be used. Lenders have different requirements for the use of proceeds, so be sure to ask your lender before you get started. 4. Demonstrate sufficient cash flow. 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.
For the original version including any supplementary images or video, visit http://www.businessnewsdaily.com/6545-small-business-loan-tips.html