Organize Your Financial Documents
Having 3-6 months of bank statements ready, along with tax returns and financial statements, shows lenders you're organized and serious about your business.
Strengthen Your Cash Flow
Lenders look at your deposits and cash flow patterns. Consistent revenue is more attractive than sporadic large deposits. Try to maintain steady incoming funds.
Reduce Existing Debt
If possible, pay down existing obligations before applying for new funding. Lower debt ratios make you a more attractive candidate.
Be Honest About Your Needs
Clearly explain what you need the funding for and how it will help your business grow. Lenders appreciate transparency and a solid plan.
Consider Your Timing
Apply when your business looks strongest - after a good month of sales, not during your slowest season if possible.