To help small businesses gain access to capital, the Small Business Administration has created the online course “How to Prepare a Loan Package” for owners who are interested in borrowing money to start, grow, or expand their businesses.
With real-world examples and tips, the 30-minute course focuses on three key elements: how to prepare a loan package for a lender; how a lender will evaluate a small business owner’s loan request; and the resources available to assist owners in preparing a loan package.
The course contains eight topic sections, each covering a different aspect of loan packaging. It also describes what a lender will need to know about a business’ loan request and how to comply, as well as the components of a typical loan package and the best way to put the materials together.
The course is part of a complete suite of tools from SBA that provide business owners with information about the various stages in any business venture, from initial counseling and creating a business plan to contracting with the government and finding seminars to grow a business.