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LegalCornerTM - Financing a Business F.A.Q.'s

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Q.What do I have to do to get a business loan?

A.When you approach a lender, you should come prepared with a business plan, your business’ financial statements (balance sheet and profit and loss statement), your last two years personal income tax returns, and a cover letter that summarizes: the amount you need to borrow, the specifics on what the money will be used for, and a plan for repayment of the loan.

If you are denied a business loan at two different banks, you may then request that the banker to make the loan under one of the SBA's Loan Guarantee Plans.

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