Marisa Barrera of Accion discusses what loan officers, underwriters and creditors are looking for in your loan application. She shares a couple of valuable tips to help you get approved for a small business loan:
- Know how much money you want to borrow (Remember: try not to ask for more money than you need)
- Be clear about the purpose of your loan and what you’ll use it for
A loan officer’s ultimate goal is to help you and make sure your payments are comfortable and within your means. By providing the most accurate information possible for your small business loan application, a loan officer will be able to determine whether or not a small business loan is right for you.