Main Content

Loan agreement

When working with Lisamarie Wand Group we can guide you through every step of the business process. With a large network in Nevada and years of experience we can guide you to possible lenders and banks that would work best for your business. Lisamarie Wand Group has an extensive understanding of loan requirements, loan options, lender opportunities, and how to prepare your business documentation. This can include tax returns, bank statements, business licenses, and any possible legal and financial records.

Applying for a business loan typically involves several steps.

Determine your loan requirements: Assess your financial needs and determine the specific purpose for which you require the loan. Consider factors such as the loan amount, repayment term, interest rate, and any specific loan features or requirements you may have.

Research lenders: Research different lenders, including traditional banks, credit unions, online lenders, and alternative financing options. Compare their loan products, interest rates, fees, eligibility criteria, and reputation to find a lender that suits your business needs.

Gather documentation: Prepare the necessary documentation that lenders typically require for a business loan application. This may include financial statements (balance sheet, income statement, cash flow statement), tax returns, bank statements, business plan, collateral documentation, and legal documents (business licenses, articles of incorporation, etc.). Different lenders may have different requirements, so it’s best to check with the specific lender you plan to apply with.

Complete the loan application: Fill out the loan application form provided by the lender. The application will require information about your business, including its legal structure, ownership details, financial history, purpose of the loan, and how the loan will be repaid. Provide accurate and comprehensive information.

Submit the application: Submit the completed loan application along with the required documentation to the lender. This can typically be done online, by mail, or in person, depending on the lender’s application process.

Wait for a decision: The lender will review your application and assess your creditworthiness and financial stability. This process may take some time, and the lender may request additional information or clarification during the review process.

Receive and review loan offers: If your loan application is approved, you will receive loan offers from the lender(s) you applied to. Carefully review the terms and conditions, including the interest rate, repayment schedule, fees, and any other relevant details.

Accept a loan offer: Once you have evaluated the loan offers and selected the most suitable option, formally accept the loan offer by signing the loan agreement or promissory note as required by the lender.

Fulfill any additional requirements: Depending on the lender, you may need to fulfill additional requirements, such as providing additional documentation, securing collateral, or meeting specific conditions before the loan funds are disbursed.

It’s important to note that the specific loan application process may vary depending on the lender and the type of business loan you are applying for. It’s recommended to consult with the lender directly to understand their specific requirements and procedures for applying for a business loan. For more information please reach out to our team!

For more information contact:
Lisamarie Wand Group – Commercial Real Estate and Business Broker Experts
Mohr Partners, Inc
1325 Airmotive Way, #276
Reno, Nevada 89502
O: 775.224.5300