1.
Re: Business growth loan Dec 8, 2007 4:40 PM
You are talking about
business expansion financing, and most lending institutions have a variety of programs and flexible options available. It is generally easier for an established business to get this type of loan -- one that will add productive capability (like facilities, equipment, and tools) -- than it is to get a loan to buy consumables (like supplies).
The four most important things to the bank will be: 1) your business plan (complete with an executive summary that grabs their attention up front), 2) the names and resumes of your owners and key staff members, 3) a statement and forecast of your strategic competitive position within your market, and 4) an itemized listing of exactly how and when you will allocate and spend the money you are requesting (with quarterly cash flow projections).
With your long history and what sounds like a bright future ahead, a well-presented request should get you the funds you need. Hope this helps. Best wishes!
