What do I need in order to apply for a business loan?

There are a number of eligibility checks your business will need to meet in order to secure a business loan. Typically, these are:

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• Your credit score in order to check your credit worthiness

• The age of your business

• Annual revenue, including net operating income

• Potential collateral - eg do you have any assets (inventory, property, equipment, etc) to back the loan in case of default.

• Personal debt-to-credit-ratio - some lenders perceive being in receipt of a large amount of credit at the time of applying for a business loan to be a risk