Entrepreneurs must prepare five main documents before applying for a small business loan. These vary depending on the lender, the business, and the loan specifics; however, all of this information is important to have ready prior to approaching any bank. 1) Business plan
A business plan is a document, organized by sections, that outlines the details, goals, and background information of the business. Keep it short and succinct (5-10 pages, ideally), and discuss only important
We know what the economic downturn has done to our 401K’s. But how is it affecting the decisions of our commercial lenders/banks in Southwest Iowa? To find out I sent out a quick survey to many of our commercial lenders in Council Bluffs and other surrounding cities within our 7 county region. Here is what they said. Q: Is it a good time to start a business or to invest in growth for an existing business?
A: Yes or Depends was the common answer. The respondents collecti