Nine Things Every Small Business Must Have to Get Funded by a Lender

Description: Small Business owners must understand that lenders are looking for specific things when considering whether to provide funding for you.  This short article speaks directly to nine areas of underwriting focus for most lenders.

Article:  Having worked as a CFO for several large, medium and small firms, I have had the opportunities to work with many banks, lenders and alternative lenders.  Lenders look for the following when trying to decide your loan worthiness: 

  1. A well written Business Plan
  2. Tax returns for last 3 years
  3. Minimum of 10% revenue growth year over year / Minimum of 30% gross margins  
  4. A financial Management system to track revenues and expenses and provide reporting
  5. Good Credit
  6. Assets (Cash in bank, stocks, house equity, other real estate, gold, diamonds, etc.)
  7. Life Insurance
  8. A strong Management team (experience in the business industry vertical)
  9. A website that looks good and tells who you are and what you do

These items above speak to your ability to pay back the loan.   If you don’t have these things, then find a partner who does and let them be the majority owner and lead.  Collaborative agreements, joint partnerships, and creative strategic relationships can be arranged so that everyone is happy. 



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