Small Business Loans in Laredo, Texas Made Easy
If you’re a small business owner in Laredo, Texas, you have more options available for funding. We’ve helped many business owners, entrepreneurs, and investors to realize their fullest potential. Even if you’ve been unable to get approved elsewhere, chances are we can help. Our loans offer many options even for those with bad credit. We’ve prepared some useful information to help you along in applying for a loan.
Determining your goals is the first step:
We offer small business loans in Laredo, Texas for many different purposes. Many business owners are looking to expand while others are needing operating capital. Determining and demonstrating your need for financing and how much you’ll need should be based on real world data. This can include estimates that you’ve had completed, payroll expense reports, invoices, and anything else that documents your need is incredibly helpful. If it’s a legitimate business need, we’ll be happy to help.
Complete an updated business plan:
An updated business plan with your new vision and mission helps to demonstrate exactly how the financing will help your business. Many people have included financial information, prototypes, models, charts, and more. Bringing your goals to life will not only help you in obtaining financing, it’ll help you along in your business. Since many of our loan programs aren’t solely based on credit, this is a rather important step. If you don’t have a business plan or aren’t sure how to update one, there’s many resources available. Online guides, templates, and even videos show you step by step how to craft a brilliant new plan. If you’d prefer someone else complete the plan or help you, there’s some low-cost options available. Interns, freelance authors, and business consultants can help you along and serve as another set of eyes. You’ll want to work closely with these individuals to ensure everyone’s on the same page.
Creditworthiness and how it affects your loan options:
Our small business loans in Laredo, Texas aren’t always based on credit as the sole determining factor. There is value in improving your credit. Having the best credit possible means having more options available at a lower cost. Paying off collections and bringing accounts current is a huge help. Disputing erroneous items on your credit report can also boost your score. Typically, business credit reports are provided by Dun and Bradstreet. Personal credit reports are provided by Equifax, Experian, Trans Union, or a combination of two or more. This helps our underwriters get a clear understanding of the true credit scenario. If you’re unable to fix your credit at this time, you can still hire a credit repair contractor to help. For a reasonable monthly fee, many of them will challenge the negative items on your behalf.
Providing business and personal finance information:
You’ll want to provide as much documentation as possible at the time of application. Among the commonly requested documents are, asset accounts, all business financial reports, tax returns, legal documents, and anything else that provides a clear snapshot of your finances. If these documents are prepared by someone else, you’ll want to have them update this information. Full disclosure helps to avoid any unnecessary delays in processing your loan.
When you’re ready to apply for your loan:
After you’ve completed as much as possible, you’ll be able to contact us for an approval. Our loan representatives will review all your information and advise you of any additional information or documentation that’s required. Once everything has cleared underwriting, you’ll be ready for settlement. This is the process where you review and sign the final loan disclosures. You’ll be provided with contact information, as well as, how and when to make your payments. It’s important that you’re clear on everything prior to funding. Once everything is completed, the loan proceeds will be disbursed. See for yourself all the possibilities we have to offer. Give us a call or fill out our simplified loan application online, today!