How to Prepare and Apply for a Business Loan

.Workshop Description

Applying for a business loan can feel overwhelming when you are unsure what numbers, documents, and information a lender will need. This hands-on workshop will walk participants through the key financial information behind a loan request, including how much to borrow, use of funds, revenue, expenses, cash flow, debt schedule, and financial projections. Participants will also learn how these numbers and supporting documents come together as part of a business loan application.

Workshop Goals

· Define the loan amount and clearly explain how the funds will be used.

· Understand the key financial information lenders may review when evaluating a loan request.

· Organize revenue, expenses, cash flow, existing debt, and other financial information needed for an application.

· Begin preparing a debt schedule and financial projections that support the financing request.

· Understand the basic loan application process and identify what still needs to be completed before applying.

Workshop Materials

1. Business Loan Application Checklist

2. Debt Schedule and Financial Projections Worksheets

3. Loan Application Action Plan

Key Takeaways

· A clearer understanding of the numbers and supporting documents needed for a business loan application.

· A starting framework for organizing existing debt and preparing financial projections that support the loan request.

· A personalized list of remaining items to complete before moving toward pre-qualification or submitting a loan application.

Capital Specialist Follow-Up

Participants will be encouraged to schedule a one-on-one working session with the Capital Specialist (Bhuva Shakti, NJSBDC Rutgers-Camden) to review their loan request, work through incomplete financial information and projections, address documentation gaps, and determine appropriate next steps toward lender matching, pre-qualification, or loan application.

Each workshop can be attended individually or as part of the full series, and recordings will be available for clients who want to review other workshop topics.