No matter who you go to for a loan, there are some things you'll need to get straight before you approach them. getting loans for new businesses can be a bit tough, especially if your cashflow is tight, and you'll need to be prepared for the questions that will come up when you got to apply. I posted this in another thread but for the sake of ease, I'll repost it here in summary. There are 3 things that all lenders will be looking for when deciding whether or not to offer you funding, get a grip on these 3 factors and you'll be well on your way to securing any loan you need: Credit Score - this establishes your past history with debt and making repayments. Good CS will help but isn't enough by itself as it's a historic measure and doesn't guarantee that your current situation reflects your previous one. Previous debt management behaviour is a good indicator of future performance, but isn't a guarantee. Equity - establishes whether or not the lender can reclaim the principle debt in the worst case event of a loan default. In the current climate this is more important that ever. Equity by itself is also not enough as it's really only a factor in the worst case sitution, which the lender is always wanting to avoid anyway. Tt's a safety net they'd rather not have to use but need to know it's there. Debt Servicing or Debt/Income ratio is the third slice of the pie and shows the lender whether you have the financial resources to service the loan. It's a key factor, but again it's not enough by itself as it only shows that you CAN pay the loan, not that you WILL. Your CS is a better indication of whther or not you will pay on time and in full, and if both of these measures are good then you have a decent shot. If all 3 are good then you're good to go and mortgage and refinance lenders will be lining up to offer you a loan, but sometimes if one of them isn't too hot, but the other 2 are you can still good get approved. A lot depends on the scale of the loan you're looking for. Lenders in different geographic areas also have different priorities as some states have suffered greater drops in housing value. For example, Las vegas Nevada is not as badly affected as some other areas so lenders there can be more flexible. Bottom line with lending at the moment is that the money is there but lenders are hesitant to give it out. Covering off the three main lending criteria factors above gives a lender pretty much everythng they need: Proof that you CAN pay the loan (Debt Servicing ability), that you actually WILL pay your installments on time and in full (credit score), and that if the worst should happen that have a SAFETY NET (Equity in security) to recover their money. I can't stress enough how important it is to understand this BEFORE you go for a loan - you only get one shot at a first impression afterall! Good luck and best wishes.

Hello, Have you found funding for your business yet?  Maybe I can help connect you to the commercial funding organization I work with.  If answer is not yet, you will need to provide basic summary information that I can submit to my lenders.  No up front fees, you get funding results (yes/no) in just a few days after submittal.  You will need: good credit (600 min) , business income or good bus. plan, and proof of stability (experience).  Good luck.

Hi millerbt25, Feel free to use the Loans & Grants Tool to generate a list of loans relevant to your business. Let us know how it goes!