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Steps to qualify for a Small Business Loan

Steps to qualify for a Small Business Loan

Small businesses can usually borrow from commercial banks, various organizations affiliated with the Small Business Administration (SBA) or other Internet-based lending companies. The first step in the process is to determine financing needs and how the company will use the loan proceeds. The next step is to write a good business plan with business objectives, financial projections and how the business strategy is aligned with financing needs. Consider various credit factors that can improve the chances of obtaining a loan,…

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