Business loans are a vital source of funding for small businesses. The process can seem complicated and difficult. Let me give you the basics to be more prepared and confident to get the loans you need.

Some of the major topics include:

• Ways to potentially reduce the interest rate on your loan.
• Determine whether loan funding is right for you with easy ratio analysis and cash flow projections to help
• How leverage (the use of borrowed funds) magnifies returns but increases risk. Many business owners chase profits and end up bankrupting their companies.
  
• Where to get business loans. There are many options you may not know about. I give an overview of the Small Business Administration (SBA) loan programs.
  
• Key loan components like how interest is calculated, types of fees, and the multiple terms that can be structured into a loan.
  
• How to prepare for the application process.
  
• Overview of the application process and the documents lenders frequently request.
  
• How lenders decide whether to approve a loan. Knowing this increases your chances of being approved.
  
• Key documents that are signed at loan closing are described, and the importance of each. I’ll point out important clauses to pay attention to in these documents. 

You also get access to worksheets, templates, and guides to improve your chances of getting the right loan at the right price. You get the following: 

• 7 Ways to Get the Best Loan Pricing You Can: This has tips on how to potentially lower your interest rate.
• Key Metrics Worksheet: Enter five numbers in a worksheet to calculate a couple of key metrics that estimate if you’ll have enough cash over the next year.
• Cash Trends Worksheet: Identify trends in your cash flows and how loans can help smooth out your cash flows.
  
• Lending Term Glossary: Translate “banker-speak” into words normal people use.
  
• Checklist of Documents to Prepare: What to have ready for a faster loan application process.

The modules and lessons are listed below. Click here for more detail about what's in this course.