How to request a loan from a bank or financial institution

Whether you need money to deal with day-to-day operations, or to invest in growing our business, the most common form of getting this money, it is requesting a loan to a bank or financial institution.
To apply for a credit card or loan to a bank or financial institution, we must first determine which will be the amount that we are going to request, and analyze in a first instance if we are in a position to pay that amount.
Secondly, we must assess the different financial offers that exist, taking into account the loan amount, the term and the costs of each offer (fees and commissions).
How to apply for a loan to a bank
at this point we must bear in mind that the interest rate that banks or financial institutions usually does not, in fact, be the only cost to pay for the loan, but there are often other costs that are not mentioned in the first instance, such as the commissions for maintenance.

When evaluating the different financial offers, we must also take into account the bank or financial institution itself, that is to say, keep in mind his reputation, his attention, its speed to evaluate the request and for giving us the loan, etc.
Thirdly, once we know the amount, the cost, and the term, we must evaluate whether it is that we will be in a position to pay the amount paying, to do that, we must find the monthly payment (which we can provide the same bank or financial institution), and then, include that amount in our projections of income and expenses (projection of our cash flow), and thus, to know if with the revenue that we generate, we will be able to pay such fees.
Fourthly we need to find out what are the requirements requested by the bank or financial institution that we have chosen, it is usual that we ask the following:
experience in the market: from 6 months to 1 year minimum, so as to be able to demonstrate it is necessary that the business is legalized.
be subject of credit: that is to say, not be classified as a delinquent client or deficient in the performance of their duties.
have the capacity for indebtedness.
historical financial statements.
projected financial statements (budgets or projections, particularly cash-flow projections).
declaration of income tax.
Commercial references.
relationship of 3 major customers (latest billings).
Relationship of major vendors.
commercial guarantees.
business plan (in the case of investments, for example, to the expansion of business): This requirement allows you to demonstrate that you have full knowledge in what you are going to invest, also allows you to assess whether the business is profitable, and if one will be in a position to repay the loan with the fruit of the business.
formal presentation.
Several of these requirements will vary according to the bank or financial institution, and according to the amount requested.

For example, if you are a bank or a financial institution specializing in mypes or microfinance, the requirements may be more accessible, for example, can you ask for only 6 months of experience in the market.
Even in some cases, the official of this type of entities, don't wait, but that goes directly toward our business to seek the same information.
Even these institutions do not require collateral or guarantees to certain amounts, only ask for presenting a project or business plan, demonstrate income, show the movements of your company, etc.
By following the steps in the fifth place, we must be prepared to answer the questions that make us about our company, prepare to say why you need the money, provide details of the investment, demonstrate the performance of the investment, and to show that we will be able to pay the debt.
And, finally, to wait for the bank or financial institution to evaluate and measure the risk of granting us the credit and, accordingly, Decides to approve or not granting us the loan.