If the request for a loan unsecured SBA small business, there are some things that look like bankers. For example, for the community loans is very short and papers will only ask what kind of activity, the duration of the training, experience, credit and gross income. But note what other factors they?
To answer this, you have to dive into the mind of a banker. One of her concerns is that the money "written in a sentence is to be walking awayand can not be used for productive purposes. Median Therefore, it is enough to justify the increased payment of the loan. He is also afraid of some bankers that the money be used for personal purposes.
Some lenders will also require that the loan can be used for fixed assets such as real stock, equipment, machinery, tools, materials, advertising, etc.. Others have a broader definition of the law, and allow the normal cash flow needs,such as rent, utilities, wages, insurance and supplies.
But for all the banks, it is really a "light" for them to a breakdown of exactly what has to be spent in general and not specific language. Calls for more success than I had seen a specific breakdown of the materials or equipment are used that are listed in the Annex, including the make, model and price. It shows that you have done the necessary research, and gives a measure of confidenceLenders.
Examples of bad
1. "To be used to extend the basic needs of the company to finance and grow revenue. We are closed in a position where one of our competitors and business, and we will be able to take advantage of this situation. We know they are paid slightly on the rise in revenues to debt service the loan. "
2. "We have the capacity of our dining room and a plan to increase space for the kitchen to reach. This will enable us to expand the menu andVolume for lunch and dinner trade.
3. "In our print business, we want to buy two color copier industry to go into any of our stores. This will enable us to capture more market so that our customers do not change their activities to some competitors in the city."
Good examples
4. "We will expand the capacity of our restaurant. In the search for the availability of equipment, we went to six houses offer business and chose AcmeRenovated restaurant supply parts includes a one-year warranty, as follows:
A. Wolf Oven Model reviewed 602-2555 $.
B. Acme walk in refrigeration, 6ft. 20 '. With a cooling unit price HP ten to refurbished, $ 5323rd
C. Acme Portable Cooler Model X850e renewed price $ 650
D. Etc.
In this way it is have a good idea, the attached list of stocks on the price. While it would be better to estimate the actual writing of the provider. In this way,Banker can easily imagine that this will result in increased income and an increased ability to repay the loan.
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