Danny F. Dukes and Associates, LLC can help your business navigate through bank credit standards. While different banks or lending institutions may have different standards, in general, your application for a small business loan, banks will require:
You and your partner(s) are of good character, have experience and good personal and/or business credit history
The day is long gone where non-cash collateral is sufficient to obtain credit. Let us help you prepare a business plan or a package to convince the banker that you deserve the credit and can and will pay them back. It is best to walk in the banker's office with a business plan that shows all documented assumptions, the competition and management track record to prove your credit worthiness and cash flows. This lets the banker know that you are serious about your business and ready for a loan. You can share multiple copies among lenders and have them compete for your business.
We work closely with several lenders, including Small Business Administration lenders. So we can help you navigate to the financial institution which is also serious about helping your business.
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