Lender meeting prep sheet

Before the meeting

Work through this list in the week before your meeting. Every step uses a free tool on this site.

• Run the free pre-screen. Your results show where your file is strong today and list your next steps — read them before the lender does the same math.
• Draft your business plan. Lenders read the summary first; the Business Plan Builder walks you through it section by section.
• Build simple projections. Know your rough monthly revenue, costs, and cash flow — and be ready to explain where each number comes from.
• Start gathering documents. Print the document checklist and check off what you have. Anything missing is a next step, not a reason to cancel the meeting.
• Know your ask. Settle on the amount range you need and exactly what the money will pay for. “I need about this much, for these things” is the strongest opening there is.
• Practice your two-minute story. What the business does, who buys from it, how it makes money, and why this loan moves it forward. Say it out loud twice.
• Consider free help first. An advisor from the networks in our Free Help Finder can rehearse the meeting with you at no cost.

What to bring

Everything on this list can be made with this site's free tools and printed.

• Your business plan — printed, or a clean current draft.
• Your projections — the printed summary plus the assumptions behind the numbers.
• Your document checklist — with checkmarks showing what you have gathered and what is still a next step.
• Your questions list — the one on this sheet, plus anything you have added.
• A notepad, or the notes section below — you will leave with a to-do list, and writing it down in the meeting saves a follow-up call.

Questions the lender will likely ask you

Most first meetings cover the same ground. None of these are trick questions — a short, honest answer beats a polished vague one. If an answer is weak today, say so and share your plan to strengthen it.

• How much do you want to borrow, and what exactly will it pay for?
• How will the business make the payments? Walk me through the cash flow.
• How long has the business been operating, and how has it done so far?
• What is your background? Why are you the right person to run this business?
• How much of your own money is going into this, and where does it come from?
• What does the business — or you — own that could stand behind the loan?
• What does the business already owe? Loans, credit lines, credit cards, leases.
• How is your personal credit? Is there anything on your report you would want to explain?
• Who are your customers, and does any one of them make up a big share of your sales?
• What is your plan if revenue comes in slower than expected?

Questions to ask the lender

You are interviewing the lender too. This site never shows rates or fees, because only your lender can state them — this meeting is where you ask.

• Ask what kinds of loans they make most often — sizes, industries, business stages — and discuss whether a request like yours fits their usual lending.
• Ask what they generally like to see in cash flow, credit history, and owner investment for a request like this.
• Ask about their current interest rates, fees, and repayment terms for a loan like yours — and ask for them in writing.
• Ask which SBA loan programs they offer, if any, and discuss whether one could fit your request.
• Ask exactly which documents they would need from you, and in what order.
• Ask what would make your file stronger before you formally apply.
• Discuss the timeline: how long from application to decision, and from decision to money in hand.
• Ask how they handle personal guarantees and collateral for a request like yours.
• Ask what happens if the answer is “not yet” — can you come back, and would they point you toward other lenders or free help?
• Verify the next step before you leave: who does what, by when, and how you will stay in touch.

After the meeting

• Write it down the same day. List every document and answer the lender asked for while the meeting is fresh.
• Update your document checklist. Mark the new items as next steps and put a date on each one.
• Send a short follow-up. Say thanks, confirm what you will deliver, and say when.
• Treat a “not yet” as information. Ask for the reasons in plain terms, work the list, and consider contacting more than one lender — each one looks for different things.

Meeting notes

Fill in these lines by hand after printing — never type them into this website.

Lender name:

Contact person and phone or email:

Meeting date: ____ / ____ / ________

Follow-up date: ____ / ____ / ________

What they asked me to send:

My notes: