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For any small business loan — including alternative options like business lines of credit — you’ll generally need to provide documentation in three different categories: Documents about yourself
Business plan and projections: Needing these documents is less common, but some lenders will ask, especially if you want a large or long-term loan or your company is quite new.
When a business applies for a loan, lenders use this information to assess risk and determine if the business has the capacity to repay the loan. The ratio varies from lender to lender, but a DSCR ...
Once you’ve narrowed down the type of loan you need, you can compare lenders side by side to find the best small business loan for you. Take a look at the following types of lenders that offer ...
Resume of all business owners. Business plan. Bank statements. Income tax returns from the last three years. ... Small business loan amounts can reach up to $5 million or more, but the amount a ...
4. Business plan. Many banks also like to see a business plan from small business applicants. A business plan outlines business goals and generally maps out a strategy for achieving those goals ...
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