Information tear sheet of small business loan

Information Tear Sheet of Small Business Loan

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A tear sheet is a slang term.

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A tear sheet is composed of three parts.

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The balance sheet summarizes the finances of the company.

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The assets column and the liabilities column need to balance out.

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An Income statement shows the lender the company’s financial records at a particular time.

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A positive cash flow statement means the company is doing well financially.

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Business owners need to prepare the documentation carefully.

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Thinking in advance and being responsible is the best thing a business owner can do.

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Preparing a good business plan takes time.

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A business owner needs to know what the interest rates for the loan are.

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Read the full article: https://businessloans.wordchapter.com/infor mation-tear-sheet-of-small-business-loan/

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