Now that you have decided to apply for a business loan, you should be aware of the commercial lending procedure. Just keep in mind that the lenders are not going to give you money simply by knowing that you are in need and you have concrete business plans.

Factors To Consider:

There are many factors that a lender analyzes before lending money to anyone. On the other hand, it is also true that they are concerned about the repayment of their money and nothing else. So, to apply for the loans with a better chance of approval and the place to start with is your lawyer, bank and church.

Usually these three groups all knows you and is well aware of your history. If you have a good relationship with any of them, it is possible that you will have less difficulty in getting your business loans passed. However, even then you will have to prepare a good business plan that includes details of how much money you need (in number) and how you are going to use it. Remember, only when your business plan will seem
promising and profit making, the lender will have no or least interest in your project.


Your business plan should include your Financial Projection and Financial statement (If you don't have a business plan, you can request for the sample business plan I used to get my loan approved by calling me on 08120210021)

Secondly, If you look at your loan application from the bank's point of view, it will look just like any other loan application. The bank or the lender distinguishes the borrowers on the point of their repayment history. The secret of my success is through a Small Business Co-operative that I joined. Your chances of approval will increase if you get in touch with the Small Business Co-operatives (SBC), because if SBC guarantees business loans, they get approved easily.

This is the most preferred one which I will refer you to try our because there is a 50 50 chance of getting your business loan approve. SBC has played a vital role in helping small businesses revive and has helped many to get back to their feet and lead a comfortable life. Most of the entrepreneurs I knew were suffering from deep financial crunch in their business. It was only due to this method of financial assistance programs that have helped people start a new life.

If you need one of the Small Business Co-operative that you can join call me on 08120210021

See you at the top.

Victoria Joshua