How to get a loan for small business development

If in practice it is almost impossible to get a loan for starting a business, then it is much easier to get it for development: banks trust projects that have existed on the market for at least six months. To get a loan you need to analyze the offers of banks, choose the optimal one and collect the package of documents required by this bank.

Instruction manual

1

Decide why you need a loan. Typically, business development involves one of the following goals: expansion of production, modernization, purchase of goods or equipment, replenishment of working capital. If you need up to one million rubles, you can get such a loan without collateral. Loans for large amounts of banks usually give out on the security of real estate, equipment or goods. Think about what you can lay if necessary.

2

In order to provide you a loan, the bank needs to make sure that you are solvent and will only grow. Therefore, prepare and submit the following documents to the bank:

1. Notarized legal documents of your company (or documents of an individual entrepreneur);

2. accounting statements;

3. application for a loan (in the form of a bank);

4. documents on the financial condition of the business (account statements, contracts, invoices, etc.);

5. documents about the business itself (contracts, specifications, business plan).

3

Pay as much attention as possible to the documents you are collecting, especially the business plan. In many cases, banks refuse credit precisely because companies are not able to properly analyze their current situation and give a clear answer about further development. Your business plan should reflect not only the path to successful business development, but also possible risks and strategies for overcoming crisis situations. Get ready for negotiations with bank employees.

4

Over a period of time, the bank will consider the submitted documents. In some cases, he may request something else besides the above. Therefore, submit several packages of documents to different banks - one of them may consider your application faster and faster to give a loan. After the decision on granting a loan is made, issue a loan agreement with the bank.