③ The SBA does not lend money. It only provides a guarantee to banks on risky loans. In the event that you default on an SBA guaranteed loan, the bank may have the SBA (federal government) make good on all or some of the principal.

Ideas for Funding Your Startup Business

Real Ways To Finance Your Startup

④ Banks may be prohibited or will not lend to certain industries based on their corporate policy, so be sure to ask the following questions before formally approaching a bank:

What the Bank Looks for in Making a Decision

4Cs of Lending

Do you lend on these kinds of projects?

Are you lending now?

Under what conditions are you making these loans?

What information do you need to consider my request? (Get their checklist)

What is the time frame usually associated to complete a loan of this type?

⑤ After you have this information, go and develop your business plan and associated documentation.

After the Loan: Maintain Good Communication with the Bank

Executive Summary

Establish a Good Credit Rating 

Have a Professional Business Plan ▪  Relationship Banking