Developing a successful financing request for your small business

Preparation and homework are keys to presenting a financing request to your lender for your small business regardless if you have been in business for some time or are just launching your dream venture.

Current financial statements and a sound business plan form the foundation along with a good credit score and positive cash flow.

If you are an existing business you will need to include the most recent thre years of financial history. Be prepared to include copies of the last three years tax returns. A lender will likely request additional information depending on the nature of your business and financing request.

You know your business best. Anticipate your lender's questions. You are asking the lender to invest in you as a partner in the business. They want you to demonstrate a return on that investment from well supported and documented cash flow.

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