Customer Reviews

How to Get a Small Business Loan: A Banker Shows You Exactly What to Do to Get a Loan

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As a commercial lender myself, I find myself recommending this book both to prospective borrowers as well as to some branch managers who may be rusty on the Small Business Lending process.

This book gives easy to understand explanations and rationales behind some of the confusing things banks ask their borrowers to do. It gives simple examples and descriptions that help me interpret the process to my customers.

Even after many years of lending money to companies, I find myself reaching for it to remind me of little details I have forgotten. It is well-written and very useful.

I would suggest the author update to include credit scoring issues which are now common in the Small Business Banking arena.

It's worth a read. You'll find that sections are for those who have an existing business or a business they are selling. If the books aren't good and if this is a new business. This book is worth the read for the information about new businesses.

One should read about bootstrapping if they want to know how to self fund a business. You'll rarely get a loan if you lack capital assets unless it's thru the SBA. Even then only a piece is guaranteed to the banks by the government on your behalf.

I started my business in 2008 and had never previously applied for any type of commercial loan. I bought this book hoping to learn about the basics and options for funding my business. Although some of the information was helpful, I felt that the author assumed the reader had some previous experience with loans, and seemed to gear the text to established businesses. I actually ended up doing substantial internet research on sba.gov and smallbusinessloansecrets.com, which gave me a good foundation to work with. I also recommend checking out "How to get the financing for your new small business" here on Amazon which is a really detailed guide to the entire funding process.