5 Tips on How to Secure a Small Business Loan

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A solid credit score.

There’s no getting around the fact that banks will look at the majority shareholder’s credit history. “It’s important to look at your credit score to know what it is and I’d say if it’s lower than probably 660 or 680, then, you need to start thinking about ways to improve it and try to get that up, I would say, before you walk into the bank, if at all possible,” says Dillon. “Now, that’s not to say that if you don’t have a 660 credit score that people won’t take a look, but it makes it a little bit harder.  In some banking institutions, your personal credit score for small business is one of the key determinants of whether or not the bank is willing to lend, that’s not necessarily the case with us, but it is at least an indicator of ability and willingness to repay personal debt.

A solid credit score.

There’s no getting around the fact that banks will look at the…

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