6 questions to ask before taking on a business loan

Today’s small businesses have more financing options than ever before. Here are questions to ask before taking on a business loan.

How much money do I need?

You can’t be too meticulous when it comes to the question of how much money you need for your small business loan.

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How good are my business credit scores?

Don’t assume that a great personal credit score and good assets are  enough to secure the funding necessary to grow your business.

Will I qualify for the business loan?

Before applying for a loan, find out if you meet the basic  qualifications. Ask your bank or lender about minimum credit scores and  cash flow requirements.

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Do I have all the necessary documentation?

Buckling down and assembling what’s needed will make it that much easier for you to apply for loans in the future.


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