Documents in a Loan Package
Documents in a Loan Package

Requesting a loan to start a new business or expand an existing one requires the business owner to become familiar with the documents in a loan package. Once you have gathered the information and documents needed, knowing how to organize the loan package is the next step. Because presentation is key, this is actually one of the most important steps in the process.

Documents in a Loan Package

If you are trying to sell the idea that your company is worth investing in, then the loan package will be your first impression to the lender. They would be more apt to consider a loan package that is easy to read and follow, then one where information needed for consideration is hard to find and extremely difficult to decipher through. This means spending more time than they would normally spend when reviewing a loan package.
This brings us to our last point; only include information in the loan package that is relevant to the matter at hand. You do not want to include information that overwhelms the lender or wastes their time….get to the point. The goal is for your company to come across as a good investment for them and not an expense.
Click here for a link to an article that further discusses preparing a loan package.
For more tips on how to improve cash flow, click here to access our 25 Ways to Improve Cash Flow whitepaper.

Documents in a Loan Package
[box]Strategic CFO Lab Member Extra
Access your Strategic Pricing Model Execution Plan in SCFO Lab. The step-by-step plan to set your prices to maximize profits.

Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs[/box]

Documents in a Loan Package

ARTICLES YOU MIGHT LIKE

Mining the Balance Sheet for Working Capital

Mining the Balance Sheet for Working Capital Let’s face it… There has been significant liquidity in the marketplace over the past couple of years. Debt and equity capital has been relatively easy to find and commercial banks have been very willing participants as capital providers; however, many of the commercial banks have admitted that this robust marketplace

Read More »

Is Your Business Bankable?

Businesses call us for many reasons but here are two very common reasons why we get called… They are growing and want to strengthen the financial function. OR They are in financial distress and can’t find a way out. Why does a business need to be bankable? What does being bankable mean? In this blog,

Read More »

Alternative Forms of Financing

It happens all the time. Companies need capital, but they aren’t bankable. Banks or other financial institutions will not touch them because they are either too risky, not able to meet covenants, or it just doesn’t work out for some reason. So, where do those companies go? They need to look at alternative forms of

Read More »

JOIN OUR NEXT SERIES

Financial Leadership Workshop

MARCH 28TH-31ST 2022

THE ART OF THE CFO®

Financial Leadership Workshop

Days
Hours
Min

June 12-15th, 2023

SHARE THIS ARTICLE
WIKI CFO® - Browse hundreds of articles