Phone: (520) 458-4001 | Toll Free: (855) 458-4001
We work with people, not paper.

Phone: (520) 458-4001 | Toll Free: (855) 458-4001
We work with people, not paper.

Sunday, August 19, 2018
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Phone: (520) 458-4001
Toll Free: (855) 458-4001
Fax: (520) 458-4002
PRIVACY
MB0929056,
NMLS #187154
Email:
Info@efedwardsfinancial.com

Phone: (520) 458-4001
Toll Free: (855) 458-4001
Fax: (520) 458-4002
PRIVACY
MB0929056,
NMLS #187154
Email:
Info@efedwardsfinancial.com

Questions to Ask Yourself

Before applying for any type of financing it is important to have a definite idea of the business needs the financing will address. Although not a comprehensive list, the following questions may help clarify those needs even before talking to any lender.

Are you and the business credit worthy?
The lender will analyze your personal and business credit ratings to help determine the answer.

How much money do you need?
Determine what the financial needs of the business are before applying for a loan.

What kind of loan does the business need?
Determining the types of commercial financing available may help the business plan for the repayment of the loan.

Does the business have sufficient collateral?
At a minimum, the value of the collateral should equal the amount of the loan.

What are the commercial lender’s requirements?
Discuss the lender’s requirements before applying for the loan. The series of articles in this topic are designed to provide discussions points when meeting with a prospective commercial lender. The discussions are free, the ramifications of financing decisions, especially hasty ones, are not.

What are the borrower’s requirements?
Know what the business can afford based on the interest rate, repayment and other terms, of any commercial loan.

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