The Small Business Administration (SBA) offers a free online referral tool called Lender Match , that connects small businesses with participating SBA-approved lenders. But before you start, make sure you’re ready to approach potential lenders:
Business Plan: most lenders expect a business plan when you apply for funding. The SBA offers a free guide.
Funding: how much capital do you need? how will it help your business?
Credit History: used to determine risk and interest rates. The SBA may guarantee some loans that otherwise may not qualify.
Financial Projections: show you understand your business’ finances, how the funds will be used, and how you’ll pay back the loan.
Collateral: a lender may require you to use another asset to guarantee your loan- a home, car, inventory, or other property.
Experience: although not required, having firsthand knowledge about your industry can make lenders more confident about the loan.