What do experts consider the key to securing a long-term business ...

[daltonest1984]

What do experts consider the key to securing a long-term business loan? Explain.

Question 2

The Human Side of Enterprise was a management book written by Frederick W. Taylor.
 
 Indicate whether the statement is true or false

[lindahyatt42]

Answer to Question 1

Preparation is the key when applying for a long-term business loan. Preparation should begin long before applying for the loan by creating relationships with potential lenders. Other factors that increase a business owner's chances of obtaining a loan include maintaining adequate balances in the firm's bank accounts, checking his or her credit rating with a credit bureau, taking the time to answer all questions on a loan application, stating how the money will be used and how the money will be repaid. Most lenders will insist that you supply audited financial statements. The owner should also compile of references. Finally, he or she should be prepared to discuss the loan request with a loan officer.

Answer to Question 2

False