First, a disclaimer: there is no sure-fire recipe to achieving a “yes” to that coveted loan. However, there are multiple things you can do to strengthen your application and highly increase your chances for acceptance. Read on for some helpful tips.
1. No Typos
You would be surprised how many loan applications have glaring spelling mistakes, or errors in grammar. Careless mistakes like these can make you appear careless as well, and will make your application more likely to be tossed in the “no” pile. Double-check and triple-check for these kinds of avoidable errors.
2. Clean Finances
Make sure your financial history is neat and clean. Credit history can have mistakes, too, so assure that there are no errors in yours. Moreover, try not to make any big purchases, apply for other loans, or open any credit cards for several months before you apply for the loan.
3. Clear Goals
Both in your business plan, you must be sure to outline your business goals clearly. Be able to define in succinct terms what your short-term and long-term plans are—kind of like an elevator pitch. You have to be able to sell yourself to the lender.
Biz2Credit (www.biz2credit.com) can help you figure out the best path to take. Loan specialists can help you navigate through the array of options to pick the one most suitable to your business. Visit the website or call (800) 200-5678 for help.