Third thing you need to consider to get a loan.

Know what you need and prove you'll use it well.

Being able to explain to a lender the exact proposed amount and purpose of your loan is perhaps the most important factor in getting approved, next to proving financially stability. Vague loan requests often make a lender wary, so being prepared with specific information can only help you in the loan application process. The woman business owner should understand not only how much funds are needed, and for what, but that the funds are very likely to produce results based on their knowledge and experience. Be prepared with full financial information and current debt service for your business. Know specifically what your request is for and what benefit it will bring your company.

Read the full article at: http://smallbusiness.foxbusiness.com/finance-accounting/2014/01/20/how-to-get-small-business-loan-tips-for-female-entrepreneurs/

Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.

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