THE DOs

DO prepare carefully prior to applying for a loan. First impressions count! If a lender believes you have done a thorough job in presenting your request for a loan, it is more likely to have confidence in your management abilities and your company.

DO dress and act professionally when you meet with the lender.

DO compare terms, conditions, and rates when shopping for a loan -- they can vary dramatically from lender to lender. Shop for a loan the same way you would shop for any other product or service. Look for the best deal for your company.

DO know how much money you are requesting and how your company proposes to pay it back.

DO have your company's financial documents available for the lender at your first meeting. The lender will be able to begin reviewing your request immediately.

DO check with your attorney before you sign any loan documents. He or she can explain the legal consequences of each document to you before you are legally obligated.

THE DON'TS

DON'T ask a lender "how much" money your company will qualify for. If you don't know how much money you need and how your company is going to repay the money, the lender will not be favorably impressed!

DON'T meet with your lender if you do not have your company's financial documents available. If you tell your lender that "the accountant hasn't prepared them yet," the lender will realize that you don't know the financial condition of your company.

DON'T show up at your meeting with the lender in sweats or torn or dirty clothes, even if you have just "come from work." If you don't take the time and energy to put your best foot forward, the lender will not have confidence in your management and decision making abilities.