You should know exactly what you need to get a loan, including the proper business plans and documents. Keeping your documents in order will help make the loan application process much simpler and more painless. (Hint: Wave’s smart dashboard organizes your income, expenses, payments, and invoices.) Here are other helpful tips:
- A good lender wants your business to succeed as much as you do. No matter what type of loan you’re interested in for your organization, be sure to keep a close, open dialogue with your lender so that they can give you the best advice.
- Know and understand your credit score so that you can explain any shortfalls if you have them.
- Avoid predatory loans such as payday loans, which are borrowed against your next paycheck.
- Check out our other accounting tools that can help you manage your business finances.
- You can keep track of your business cash flow by using Wave's free accounting software.