Preparing For a Small Business Loan
SBDC’s do not act as lending institutions, nor do they provide grants.However, the center tries to match the client with lending institutions that have financing programs that suit their business needs. Information on financing programs available at the local, state and federal level can be obtained from then DCEO financing matrix.
In order to prepare for a business loan, the following items must be included in your loan package:
A sound business plan
24 months cash flow projections
3 years of personal tax returns
A personal financial statement
A good credit record
If you are already in business you will need to have...
Past 3 years of business tax returns
Balance sheets and profit and loss statements
List of assets and existing debt
So where do I start?
Get professional help from the SBDC
Obtain SIUE SBDC Business plan Outline
Understand your credit
Fill-out Personal Financial Statement
|Take a look at our Video!|
|To Play the video, choose a player below.|