Setting You Up For Success
In today’s small business environment it is more important than ever to take advantage of advice from Business Planning Experts. We will:
- Analyze your business plan
- Create customized financial templates for you to develop your projections
- Assess the strengths and weaknesses of your business model
- Guide you through the application process
- Provide access to additional resources
- Offer ongoing support
Every Step of the Way, We’re There
- Our Business Counselors review your plans, analyze your assumptions, and offer feedback for improvement
- Our Business Counselors take the guesswork out of the paperwork!
Risk Assessment
- Our in-house Underwriters assess the risks of your endeavor to help you decide whether to go forward with your plans
Approval
- Our Loan Officers present your loan to our Board of Directors for approval
Once approved, you are typically only two weeks from closing on your loan*
*Conditions
Ordinarily, it takes 30 days or less to obtain approval. The following is the information needed to review a loan application (vist the Business Resource Center for templates, etc):
- Application Package
- Business Plan for a start-up business or Marketing Plan for existing business
- Statement on the use of funds (Sources & Uses)
- Business tax returns for the past 2 years
- Interim financial statement no older than 90 days (can be done in-house)
- 12-Month Cash Flow and Profit & Loss Projections
- Personal Financial Statements and personal tax returns for the past 2 years for principals with 20% or more ownership
Supporting Your Success Going Forward
Our Business Counselors have all the tools necessary to support the ongoing growth of your business. As a MicroLoan client, you are entitled to the following services free of charge:
- Ongoing assessment of the financial health of your business
- Guidance in support of the formulation of a three year plan
- Support in the creation and execution of an action plan to reach your goals