What you need to apply for financing [checklist]
Acquiring working capital or equipment financing is a big decision so it’s important to get your ducks in a row before doing anything else. We’ve put together a simple checklist for planning out your financing process – and success.
Before you get started, do you know/have:
- 6 months of bank statements
- Most recently filed tax return
- Business specialty
- Breakdown of customer base
- Last year’s gross revenue
- Last year’s profits
- History of your business
- Business credit
- Personal credit
- How much do you want to borrow?
- How much can you afford per month?
- How long would you like to borrow the money for?
Are we missing something you think should be on this list? What have your experiences been with financing for your business?