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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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© Copyright 1999-2019 Melissa C. Marsh. All Rights Reserved. All Information on this website is subject to a Disclaimer and Use Agreement. This information is provided as general information only and should not be construed as legal advice. We advise you to seek the advice of competent legal counsel to address your own specific questions, facts and circumstances.