Prepare for the conversation.
Have a clear use of funds and timeline in mind. Depending on the financing, a lender may request business financial statements, bank statements, details of existing obligations and information about assets or property.
Questions worth asking.
What will the financing cost?
Consider interest, fees and total repayment—not just the quoted rate. Ask for the full repayment schedule and any early repayment charges.
What determines eligibility?
Criteria vary. Lenders may consider time in business, revenue, cash flow, credit history, security and the financing purpose.
How long does a decision take?
Timing depends on the financing, lender and completeness of the application. Ask about the expected process before relying on a funding date.