Qualifying for a Small Business Loan: A Complete Guide

1
Qualifying for a Small Business Loan A Complete
Guide

• Small Business Loans

2
Overview

• Small business loans require greater scrutiny,
  documentation, and financial details than
  personal loans. Dont let the process intimidate
  yousecuring a small business loan can mean the
  difference between success and failure. Learn how
  to navigate the process and secure funding for
  your business's growth.
• Click here to Read the definitive guide to small
  business loans on Biz2Credit today!

3
How to get a small business loan?

• If you are looking for small business loans, you
  need to keep track of the following things,
• Eligibility You must have a registered business
  with a purpose for which you can repay the loan.
• Credit history A decent credit score and
  history.
• Business plan You should have a well-prepared
  business plan with the financial attributes that
  help the lender understand your repayability.
• Documentation You must provide your legal and
  financial documents, like tax returns, business
  plans, and bank statements.

4
How to apply for a small business loan?

• To apply for a small business loan, you can
• Use the SBA's Lender Match tool Enter the
  essential information for the loan you want and
  create an account to connect with participating
  lenders. You can then apply instantly through the
  lender that selects you.
• Apply online Some lenders let you know online,
  which can be quick and automated.
• Apply in person Traditional banks can ask you to
  visit their physical branch to apply. 

5
What makes you eligible for a small business loan?

• There are several factors that decide your small
  business loans
• Credit score Lenders usually want a personal
  credit score of 670 or more, but the minimum
  score varies by lender and type of loan.
• Time in business Lenders usually see how long
  the company has been in the industry.
• Debt service coverage ratio (DSCR) Lenders want
  a DSCR of at least 1.25, which shows the business
  has enough cash flow to cover its debt
  obligations.
• Collateral Lenders may ask you for collateral,
  like real estate, equipment, or cash, to reduce
  risk. The lender can repossess the collateral if
  you cannot repay the loan. 
• Read more https//www.biz2credit.com/term-loan/de
  finitive-guide-qualifying-small-business-loan

6
Eligibility Criteria
7
Why Choose Biz2Credit?

• Trusted partner for franchise funding
• Biz2Credit was founded in 2007 and has provided
  more than 10 billion in loans.
• Dedicated support team
• Tailored financing solutions

8
Author
By Brett Holzhauer
9

• Thank You