10 Things to Know About Lån Til Verksted

Business Loans for Workshops

Business loans for workshops can be different than personal loans or home loans. They can be similar in that you need to apply for them, giving them some information, and then you will be approved or not. But they are different in the types of information that you need to provide.

There are more regulators that you need to deal with as well. You need more than a bank account to get a business loan. You also need more than accounts receivables that prove your business is worthy of a loan.

If you want to get a business loan, there are many places you could go. You could try forbrukslåån-til-verkstedregning/ to see what they have to offer you. They have different types of loans that could help you out.

This article will tell you many of the things that you should know about business loans. It will give you some tips that you should know. You can also do more research to find the information you need.

10 Things to Know About Lan Til Verksted1

10 Things a Bank Will Ask For

  1. Collateral – You will need to have some sort of collateral for your loan. You can’t use all accounts receivable, that can only be up to 75% of your collateral. You will also need to provide something personal such as equity in your home.

If you are needing a loan for the inventory for your business workshop, you can only use a percentage of that as your collateral. The lender will also want to look at the inventory to make sure that it is worthy of being collateral. The lender will require something personal, and your home equity might not be enough.

  1. Business Plan – A business plan is also needed for to borrow money. A business plan is a plan of what your business will be and what it will do. A lender will tell you exactly what needs to be in the plan.

It doesn’t matter how long the business plan is – it could be as little as one page. It just needs to be a summary of your business. You just need to let the lender know what they are giving you money for.

  1. Your Business’s Financial Details – You will need to let the lender know about your financial details, as well. They will want to know how your business is doing financially. This way they know that you will be able to pay the loan off.

You will need to include all loans, both past and present. They want all debts that you have incurred. Of course, they will also need to have supporting information such as your tax ID number, your addresses, and your contact details.

  1. All Details on Accounts Receivable – The lender will want detailed information about your accounts receivable. This means that you will provide aging, account by account information so that they can check their credit. You will also provide sales and payment history.

If you don’t know what this is, you probably don’t have accounts receivable. This means that you won’t have to provide them to the lender because you don’t have them. You would know if you had them because it is something that you would deal with every day.

  1. All Details About Accounts Payable – These are all the accounts that you pay for each month. The lender will need to know who sells to you and what they sell to you. They will also need to know from them how you are about making payments to them.

If you are great at making your monthly payments, the lender will look at that favorably. You will be more likely to get the loan that you need. This is a big reason to make your monthly payments on time.

  1. Financial Statements that are Audited or Reviewed – You should begin with a balance sheet. This should have all the assets from your business, liabilities, and capital. The latest balance sheet is the most important.

You also need profit and loss statements that go back at least three years. If you don’t have enough to go back that far, there may be exceptions made. If you want an exception, you must have good assets and a good credit history.

  1. Personal Financial Details – You also will need to have all your personal financial details ready for the lender. This includes your social security number, net worth, details on all your assets and liabilities. This would include your home, vehicles, any investment accounts, credit card accounts, and all loans.

If you are a partnership, you will need to provide this information for all partners. They want you to be able to guarantee the loan by listing all these details. This proves that you will be more likely to pay your loan off.

  1. Insurance Information – It is important to have insurance on all partners in the business. If something happens to one of them, the lender will get money first to pay off the loan. Then the rest will go to other beneficiaries that are listed on the policy.

If you don’t have insurance already, the bank will probably ask you to get it. This way they won’t be at a loss if one of the partners passes away. They will have the money for the loan.

  1. Copies of Past IRS Returns – The banks want to see the corporate tax returns to make sure that there aren’t multiple books that have information. They also need to have them so that they know your business can pay off the loans. If you don’t have these to provide, you won’t get your loan.
  2. Agreement on Future Ratios – Commercial loans require agreements on future ratios. The company needs to keep quick ratio, debt-to-equity, and current ratio within limits that have been previously agreed upon. If your financials fall below those previously agreed upon ratios, you are in default on your loan.


There are many things that you should know about when you are trying to get a commercial loan for new workshops for your business. These things are important for you to get the loan and you need to know about them. If you know about them, you will be able to go through the process of getting your business loan.


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