9 things you must do to maximize your chances of obtaining a small business loan

7. Latest Set of Management accounts. Again
produced from your accounting software.

8. Accounts receivables (debtors) and
payables (creditors) ageing reports.

9. Principals financial statements. '

If you are a new company, the emphasis is

going to be on your business plan , and the security (also called collateral)
you or your business can provide against the loan.

You must take the time to practice presenting
your case to the bank or lender to iron out any glitches.' Practice on your
colleagues and family (you never know, they might be so impressed, they'll
invest or lend!).' It may help to role play the lender and come up with as
many pointy questions as possible.' The more time you take the better your
chances will be. (But remember, don't fall into the analysis paralysis trap!)

Good luck!

About the Author

Neil Best is an accountant with over 15 years experience in business finance. This article and other useful small business finance information can be found at http://www.smallbusinessfinancetips.com/small-business-loans.html