You want to get a good, solid overview of what it takes to acquire that business loan you need, especially if you are a startup. The essential element of what the lenders out there require of you can be wrapped up in the acronym, C. C. C. These are...

Cash - Decide how much money you want to borrow, what it will be used for specifically, and how much you personally will put down on the loan. The more cash you can come up with the better, period.

Credit - Your personal credit score really should be 700 or better. Unless you've got tons of cash and collateral, don't even attempt a loan request until it is. Personal credit reports can often be obtained free and securely over the internet.

Collateral - The more collateral the better. The lender will establish a loan-to-value on all of it. Having a house to pledge is a huge plus. Keep in mind, though, that little or no cash and lousy credit will not be made up for by an excess of collateral.

You must decide how much money you need and how much you can raise for a down payment. You must get working to make that credit score of yours better. You know how many assets you have, and should find out what their liquidation value is. You need to discover how to get your hands on additional cash and collateral should the need arise...

Still with me? Good. If you are serious about starting or enhancing your business through a loan, you need to understand that lenders will want to know how much skin you have in the game. After looking into a loan possibility, many aspiring and existing entrepreneurs conclude that the money lending industry is too demanding and complex, and the sheer volume of information required by them is overwhelming. Then, discouragement sets in and drains all the excitement and enthusiasm out of them.

But perhaps it's prudent to think from the lender's perspective for a moment. Imagine a stranger approaches you, nicely dressed and polite, and proceeds to enlighten you on his idea to build a lovely espresso stand just down the street from your house. His vision of the success of this venture is optomistic, he apparently has a little experience at running coffee joints, and is now inquiring if you would like to fund the construction and initial operation of this hopeful enterprise.

So, naturally you begin to be a little inquisitive...

You: "How much cash will you have on the line for this project?"

Him: "Cash?"

You: "Yeah, you know..., money? And, since I'm asking, how's

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