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Preparing For a Small Business Loan

The Small Business Development Center is not a lending institution and does not administer any grant programs for entrepreneurs or small businesses. However, the Center tries to match the client with lending institutions that have financial services that addresses their business needs. Information on financing programs available at the local, state and federal level can be obtained from the DCEO financing matrix.

In order to prepare for a business loan, the following items must be included in the loan request:

• Completed business plan

• 24 months cash flow projections

• 3 years of personal tax returns

• Personal financial statement

• Strong credit record

For SBDC clients already in business, include the following:

• Past business tax returns, up to three years

• Current balance sheet and profit/loss statements

• List of assets and existing debt

How to get started?

• Contact a SBDC counselor for assistance.

• Obtain SIUE SBDC Business plan Outline

• Understand your credit

• Fill-out the Personal Financial Statement

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