I want to take a loan for my small business,what should be done before taking the loan?


#1

I want to know how do I decide about taking the loan.


#2

Before you take the loan,you should first do some research on the lenders and their terms and conditions for providing loans.Every lender also has different documents requirement and eligibility criteria.

You should also consider which type of loan you will be able to avail secured business loan or unsecured business loan and what do the lenders offer.

Apart from considering the interest rate you should also consider the APR i.e. the Annual Percentage Rate (annual cost of the business loan).