What are your specific business goals? Your goal is a very important factor when applying for a business loan. You need to have a clear idea of whether your goal is to enter new markets or offer a better product/service to the niche market. Your first step should be to define your goal.
5. What concrete measures should you implement? Once you’ve set your goals, it’s important to break them down into specific phases that will help you reach your goals. If your goal is to target new markets, you need to start new marketing programs and hire resources to sell and support the target market.
6. How much money do you need to borrow? Money is the lifeline of any business. Before you apply for a business loan, you need to determine the amount of money you need to borrow. To do this, you must develop the capital you need to support the activities required to achieve your business goals.