You best option is to learn and understand what lenders (even SBA lenders) require in a qualified borrower. Then set you business up to meet those requirements. Lenders look for several things - 1) willingness to repay (your personal credit history) 2) your ability to repay - here they look for three items 1) cash flow or conversion of assets 2) collateral 3) personal guarantees. You must have all of this in place before applying for any loan. There is no free money or stimulus money that will go directly to small businesses.

You best option is to learn and understand what lenders (even SBA lenders) require in a qualified borrower. Then set you business up to meet those requirements. Lenders look for several things - 1) willingness to repay (your personal credit history) 2) your ability to repay - here they look for three items 1) cash flow or conversion of assets 2) collateral 3) personal guarantees. You must have all of this in place before applying for any loan. There is no free money or stimulus money that will go directly to small businesses.

HiThere is correct that lenders look for every bit of collateral that they can find. However, I would not spend the money for an appraisal before applying with the bank. I say this because it is very likely that the bank will want an appraiser of their choosing and you will have to pay for the second appraisal as well. I would value your assets as best as possible using what information you have access to. Also, HiThere is correct that if you approach a lender without having your 'ducks in a row' you will probably be told No after a week or two of waiting. Message Edited by TR_OK on 04-03-2009 08:51 AM

HiThere is correct that lenders look for every bit of collateral that they can find. However, I would not spend the money for an appraisal before applying with the bank. I say this because it is very likely that the bank will want an appraiser of their choosing and you will have to pay for the second appraisal as well. I would value your assets as best as possible using what information you have access to. Also, HiThere is correct that if you approach a lender without having your 'ducks in a row' you will probably be told No after a week or two of waiting. Message Edited by TR_OK on 04-03-2009 08:51 AM

Before U go to the bank make sure that U have appraisal done. Otherwise they just ignore and tell you one weel later, ' Sorry we are not doing these kind of business loan right now'. They want your money in cd and everywhere, but they don't give U the loan.

Before U go to the bank make sure that U have appraisal done. Otherwise they just ignore and tell you one weel later, ' Sorry we are not doing these kind of business loan right now'. They want your money in cd and everywhere, but they don't give U the loan.

You cannot apply for stimulus funds directly from the government. Visit www.sba.gov/recovery   You can apply at a bank for an SBA Guaranteed loan.   For help with that contact your local bank.

You cannot apply for stimulus funds directly from the government. Visit www.sba.gov/recovery   You can apply at a bank for an SBA Guaranteed loan.   For help with that contact your local bank.