The lender should have a crystal clear picture in his head, to why he is lending you the money. This is the reason why you should have statements of your personal financial statuses. There should be no question left unanswered in the lenders mind. Hence you should make a list of your personal financial assets.
If you are taking loans in order to expand your business you will need to show the lender the previous business tax returns. By doing so, he will get a clearer picture as to where the company stands financially.
It is not difficult for the lenders to check your credit rating. Therefore it is not necessary for you to attach a credit report with the business loan application that you present. When there is any doubt regarding the credit rating, you should attach the document for precautionary measures.
To acquire a small business loan you need to make sure that you do not have a poor credit rating. In case you do, then certain steps should be taken in order to make the credit rating acceptable to the lender.
Persuasion is the key. You will need to persuade the lender to accept your proposal and mention that the prospect will benefit not only the company but also the lender.