The National Directory of Certified Public Accountants

Ask A CPA - Small Business Services

How Do I Prepare To Get A Business Loan ?

The basic three questions a lender will ask you is: How much do you want to borrow?; How will you use the loan?; and How will you repay the loan?. You must be prepared to answer these questions. When you apply for the loan, you must be able to provide prior, current and projected financial statements and a business plan which includes the name of the business, location, production facilities, business goals and legal structure. A description of your business experiences and management capabilities, as well as the expertise of your key personnel will also be needed.

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