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Created by FindLaw's team of legal writers and editors | Last reviewed September 21, 2022
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Small business loans are a great way to help finance your initial start-up costs including items such as equipment for your business. For instance, let's say you have a great idea for a cycling gym, but don't have the initial capital to buy the spin bikes. You can apply for a business loan to cover those essential equipment costs.
If this is your first time applying for a business loan, there is some important preparation you can do ahead of time to make the process go as smoothly as possible. Proper financial planning will be the key to your success. While this article can't provide a guarantee that you will get approved, coming to the initial meeting with the lender armed with knowledge will help you feel more confident and show you've done your homework.
Here are some Do's and Don'ts to applying for a business loan. For more information, visit FindLaw's Starting a Business section.
We make business formation EASY. Learn about our DIY business formation services here.
You may want to consult with a lawyer before or during the loan application process to help you better understand your legal obligations before you sign on the dotted line for your business loan. Contact an experienced business law attorney today to learn more.
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Contact a qualified business attorney to help you navigate the process of starting a business.
We have a DIY option you can use to save time and stress.We help you:
Prefer to work with a lawyer?Find one right now.