How to Prepare for Your Small Business Loan Application

When seeking a small business loan, it’s a good idea to be prepared before you start the application process. There has never been a better time to upgrade or purchase equipment, hire additional employees or ramp up production to fuel new growth. STRADA Capital offers a smooth process, but to make it even smoother start with the following preparations.

Check Your Credit

Your personal and business credit scores are both important when it comes to obtaining a small business loan. You can get a free copy of your credit report from each agency once every 12 months; visit the FTC website for details.

Prepare Your Business Plan

Part of understanding how to get a small business loan is ensuring you have a solid business plan. Though STRADA Capital won’t insist on seeing your formal business plan, similar documents will be used to make a decision.

Prepare Your Documentation

Make sure you have all your documents in line before applying. STRADA Capital does not require all of the paperwork that traditional banks desire. Instead, we focus on what your business is doing now, your specific industry, and your immediate cash flow.

We want you to get the right small business loan, with the best terms, in a fair and transparent way. If you think you are ready to apply, we here at STRADA Capital are ready to help you out!

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