Presenting to Borrower(bank)

Discussion in 'Business Operations' started by Rody, Feb 19, 2002.

  1. Rody

    Rody LawnSite Member
    Messages: 8

    I am going into the landscaping business with a partner and was wondering what they will all be wanting presented to them to get a loan? What kinds of things eg. amounts, prices, budget plan, etc. do you need? What are they going to be looking for and what should be included in them? Anything would be helpful to me and yes a pre-talk or many talks with them will happen, I just wanted to hear others opinions/viewpoints.

    ---A dream is never near when you have a blocking fear---

  2. LawnLad

    LawnLad LawnSite Senior Member
    Messages: 738

    Good luckk with your new venture. Getting financing can come in many different forms. If you're in business already it will be a little easier to get money from the bank, as you have a track record they can work off of.

    They will want to see financials, personal tax returns and probably a personal financial statement. You'll most likely have to personally guarantee the loans.

    If you're not in business and just starting out - you'll most likely need to get an SBA loan. As most banks will not lend to you directly without the SBA guaranteeing the risk. For this you'll need a business plan spelling out your venture.

    If you are already in business need more money beyond the traditional bank loan, SBA is also a good way to go to grow your company.

    Do a search, as I know there are some threads on this one already - there were already a lot of good suggestions/feedback.

    Try the following websites to begin your preparation.
    For SBA loan information
    For information about writing a business plan

    Good luck to you.

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