Article: Three C's
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Three C's
What Startups Need to Get a Business Loan, Part 1
You want to get a good, solid overview of what it takes to acquire that business loan you need, especially if you are a startup. The essential element of what the lenders out there require of you can be wrapped up in the acronym, C. C. C. These are...
Cash - Decide how much money you want to borrow, what it will be used for specifically, and how much you personally will put down on the loan. The more cash you can come up with the better, period.
Credit - Your personal credit score really should be 700 or better. Unless you've got tons of cash and collateral, don't even attempt a loan request until it is. Personal credit reports can often be obtained free and securely over the internet.
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