Most businesses need to borrow money from time to time, whether to fund a startup operation, expand an existing business or just manage a rough patch. Your chances of getting a loan approved will be enhanced by having either a solid business plan incorporating the "five C's" of business credit or documented financial statements showing the overall health of your business. Lenders use this information to help determine whether to extend credit, so be aware of how they may affect your loan application.
Here are the areas that lenders really look at:
Turn to Navy Federal
There's one more "C" you shouldn't ignore—your credit union. Navy Federal has the products and services—including business loans and lines of credit—that our members need to pursue a successful business strategy. Visit Navy Federal to learn more or call Business Services at 1-877-418-1462.
Since the beginning, we've been with our members every step of the way.
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