Business Loan Packaging

When applying for a business loan, lenders have a long checklist of things they need in order to evaluate your commercial loan request. Gathering this list of documentation can be one of the longest parts in the entire loan process. The quicker you are able to gather up a complete package the sooner your loan request can be processed.

A full and honest disclosure is always the best approach to take when submitting your business loan package. With this in mind, there are a few things you can do to help make your loan package look the best possible to a lender.

  • Anticipate as much of the list as possible. Our checklist will help you gather almost every document a lender would need.
  • Take extra time to explain your experience in business and how you are able to manage risk in good and difficult economic climates.
  • Make sure your projections will be reasonable. Submitting a break-even, best case and worst case scenario projection will help the lender evaluate the strength of your business.
  • Make a list of one time expenses or other anomalies that a lender should know about your business or anything in the package.

If all you do is polish your package in the areas mentioned, you will be leaps ahead of most business owners. Knowing a bit about commercial loans and having the right expectation can also significantly improve your chances of getting your business loan funded and save you time. Make sure you stay objective when you visit with your lender. This will demonstrate a factual approach to your request rather than a sales pitch. If you are feeling overwhelmed with this process, we would be happy to help.

The Hoffman Consulting Group knows how to prepare and present your commercial loan request with the right foot forward. We set the right expectations and ensure a reasonable request is submitted. Let us navigate you through the business loan packaging process. Contact us today at sales@hoffmancg.com.

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