Ask SCORE for Business Advice
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SCORE is a Resource Partner with the U.S. Small Business Administration
SCORE does not make loans. Nor do we have grant money. We do, however, get you ready to approach your lender for a loan for your small business.
Bank loan requirements
These are the general requirements for getting bank financing for your small business. They can vary from these guidelines, but will in general be true for most lenders.
Owner equity of 15 - 30 % of the total required to start your business. This can include assets you may already have (tools, vehicles, land, etc) other than cash.
A Business Plan. Most lenders will require one. Download a copy of our business plan format here. Call for an appointment - SCORE at Pueblo Chamber of Commerce (719) 542-1704. We will guide you through the process.
A good credit rating. Get a copy of your credit report to see what is being reported about you. Credit reporting companies are listed at creditreports.htm
Collateral for the amount of the loan. The lender will discount your collateral, probably as much as 50%. SBA guarantee may be required to make the bank happy if you don't have the required collateral.
