Don’t skip asking this essential question when researching business loans from online-only lenders

Done responsibly, taking on debt can play a helpful role in growing your business, whether the loan is for equipment, hiring, day-to-day operations, or whatever your need may be.

Here’s where you could run into issues: not knowing how much money you need or how much you’re comfortable borrowing, for that matter. Being in the dark about this can be especially concerning if you’re working with an online-only lender who may offer a substantial loan offer up-front, without doing a proper check on your needs.

By doing some simple leg-work yourself, you can land on a pretty solid estimate. That way, you won’t end up in a position of getting too little or too much financing, which either way can be costly. What’s more, being prepared will show your lender — whether it’s an online-only outfit or a community lender such as CDC Small Business Finance — that you’ve done your homework.

Be in-the-know with tips and tricks from our very own loan and credit experts. Our interactive, skimmable guide below will walk you through the key questions to ask before making a decision on the best business loan for you.

For INSTANT access, click below for your FREE download. (We don’t ask for emails!)

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Named SBA’s 2018 Microlender of the Year, CDC Small Business Finance is committed to providing affordable loans and a quality lending experience. That promise is backed by 40 years of experience as a community lender, non-profit and consumer advocate.

Tell our loan experts about your business and its needs, and they’ll work to match you with an affordable, sustainable loan that’s best for you. Let’s talk! Reach us at loaninfo@cdcloans.com or (619) 243-8667.

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