Business loans seek approval from loan officers who have several things in mind when they review an application. First, they look to see if the applicant has a good credit history; then they determine if the applicant has sufficient experience and training to operate a successful business. Lastly, they make sure that the loan proposal and business plan accurately demonstrates the individual's understanding of, and commitment to, the success of their future business.

When you apply for business loans, you'll find that most loan officers will order a copy of your credit report from a credit reporting agency. Thus, it's strongly recommended that you work with these agencies to help them present an accurate picture of yourself. Lenders will also look at your work history, as well as any letters of recommendation.

Both small business loans and large business loans will depend on a few key factors, including how well you present yourself, your business plan, and your financial needs to a lender or investor. The best way to improve one's chances of obtaining a business loan, and financing a business, is to prepare a thorough, intricately detailed, and professional-looking proposal that the lender won't be able to turn down.

Your proposal is essentially your business plan with several important additions: the executive summary and the financial information section. The former states the purpose of the loan and the exact amount required, explaining specifically what the loan will be used for and why it is needed. The financial information section will include personal financial statements on yourself, as well as other principal owners of the business, if a partnership is intended.