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To position your loan package for success, there are some key steps you should take. It all starts with your loan application. A well-designed, well-written package shows lenders that your business is a sound investment with the potential to generate solid, stable returns.
When preparing a loan package, gather information to answer the following questions:
Those are the five questions most lenders ask, and if you don't have solid answers, pull together the information required to provide answers before writing the package.
When you're done collating the facts and figures, include the following key elements in your loan package:
Be prepared to provide profit and loss statements, balance sheets and other financial history documentation.