Before going to lenders for financing, check the points below to see what you will need to prepare. Remember, each institution is different, so the requirements vary from lender to lender depending on how they assess your specific case.

• In any case lenders always want to see significant collateral or personal investment, usually 20%-30% of total financial need.
• Always be aware of your own personal credit history. Many times that is the first piece of information a lender will collect when you apply for a loan.
• For most loans, you (and your spouse) will have to pledge personal assets to collateralize the loan. Just because they do not require you to sign a second mortgage on your home does not mean that that property is immune if the loan is jeopardized.
• You should shop for financing like you would anything else, as institutions will vary on collateral requirements, terms and rates. So it is in your best interest to gather information from several different lenders.
• Venture Capital firms are VERY difficult to access and their interests are LIMITED. Very few start-up small businesses meet their stringent requirements.