The Small Business Loan Guide

If you're applying for a business loan – especially an SBA loan or a loan for a new business – there's a good chance your lender will ask for a business plan. Most business owners approach it the wrong way, treating it like a marketing brochure meant to impress. But, lenders aren't looking for “impressive" – they're looking for "real."In this episode, Dan Domino breaks down what lenders actually want to see in your business plan, what they're thinking when they read it, and how to structure yours so it helps you get approved, rather than hurt your chances.Topics covered:What your business plan is actually doing when a lender reads it – and the one question it needs to answerThe must-have components of a lender-ready business plan, and the job each one has to doWhy the financials are the most important part – and what lenders zero in onHow to keep your business plan from becoming an overly complicated, expensive projectWhy your business plan is a tool for your business, not just a box to check for the lenderSuggested resources:LivePlan⁠ business planning and financial projection software. Builds your financial projections for you using SBA-approved formatting. https://www.liveplan.com See our blog post that goes with this episode: What Lenders Want to See in Your Business Plan https://bit.ly/jsg-business-plan-for-lendersLearn more:For free tools, resources, and consulting for business owners working through the loan process, visit the Jay Street Group website at jaystreetgroup.com/start. Questions? Email us at [email protected] Timestamps:(0:00) Introduction(1:23) About this series(1:52) What your business plan is actually doing for lenders(3:34) What needs to go in your business plan(3:46) Section 1: Executive summary(4:04) Section 2: Business description & industry(4:23) Section 3: Market analysis(5:00) Section 4: Products and services(5:21) Section 5: Marketing and sales(5:43) Section 6: Operations(6:04) Section 7: Team(6:36) Section 8: Financials (overview)(6:46) Section 9: Use of funds(7:20) Section 10: Repayment plan(7:50) Deep dive: Financials(8:14) Realistic projections(9:19) Break-even analysis(9:26) Cash flow(9:53) Repayment capacity(10:26) Downside scenarios (optional)(11:14) Key takeawaysPrivacy Policy and Terms and Conditions apply. See them here:Terms and Conditions: https://bit.ly/jsg-termsPrivacy Policy: https://bit.ly/jsg-privacy

Getting a business loan is harder than most people expect — and that's by design. Lenders are taking on real risk when they lend to a small business, and their default answer is no. In this episode, Dan Domino breaks down why approval is genuinely difficult, what separates a yes from a no, and what you can do to put yourself on the right side of that line.Topics covered:Why business loans are designed to be hard to get — and what lenders are really thinking when they evaluate youA real-world case study: same business, same owner, same revenue — one gets approved, one gets denied, and whyThe situations that make approval harder: no collateral, weak cash flow, high existing debt, no industry experience, and past credit issuesWhat actually improves your odds: being specific, matching the right loan type to your stage, cleaning up your financials, and choosing the right lenderWhen a loan is the wrong move — and what to consider insteadSuggested resources:45+ Ways to Fund Your Business Without a Traditional Business Loan: Sometimes a loan isn't the right move. This list covers the alternatives: non-loan funding options across the board, with pros, cons, and when each one makes sense. Email [email protected] with "no loan funding" in the subject line, and we'll send it to you.See our blog post that goes along with this episode: https://www.jaystreetgroup.com/how-hard-is-it-to-get-a-business-loan-april-2026See ⁠this episode⁠ on our ⁠YouTube channel⁠: https://youtu.be/WN9HAmiDG00Learn more: For free tools, resources, and consulting for business owners working through the loan process, visit the Jay Street Group website at jaystreetgroup.com/start. Questions? Email us at [email protected] Timestamps:(0:00) Introduction(0:50) About this series (1:40) Why business loans are designed to be hard (1:48) Reason 1: High small business failure rates (2:55) Reason 2: Lenders are betting on your future (3:41) Reason 3: Even strong businesses get denied (4:23) Reason 4: The default answer is no (4:46) Reason 5: Alternative lenders aren't easy money (5:35) Case study: same business, two outcomes (6:08) Scenario 1: The approved application (7:25) Scenario 2: The declined application (8:30) Situations that make approval harder (8:38) No collateral (8:59) Weak cash flow (debt service coverage) (9:45) High existing debt (10:02) Weak business model (10:27) No industry experience (10:43) Bankruptcies or defaults (11:07) What actually improves your odds (11:13) Be specific in your loan request (11:27) Match loan type to your business stage (11:56) Clean up your financials (12:30) Choose the right lender (13:12) Have a backup plan (13:58) When a loan is NOT the right move (16:52) Key takeawaysPrivacy Policy and Terms and Conditions apply. See them here:Terms and Conditions: https://www.jaystreetgroup.com/terms-and-conditionsPrivacy Policy: https://www.jaystreetgroup.com/privacy-policy

If you’re looking to get a small business loan, you may have Googled "how to get a business loan." The advice out there tells you to find lenders, fix your credit, and fill out applications. But that's not really where the process starts — not if you want financing that actually works for your business.In this episode, Dan Domino from Jay Street Group explains how lenders evaluate small business borrowers, what types of loans exist and when each one makes sense, and how to walk into the process prepared — not just hoping for a yes.Topics covered:The one question every lender is really asking — and how to answer itWhy your loan purpose needs to be specific (and what happens when it isn't)The 5 C's of Credit: how banks score you as a borrowerTerm loans, SBA loans, equipment financing, lines of credit, and alternative lenders — what fits your situationWhat documents to have ready before you applyPersonal guarantees: what they mean and why you shouldn't sign one without thinking it throughWhat to do if a lender says “no”Resources mentioned:⁠LivePlan⁠ business planning and financial projection software: https://www.liveplan.com/Funding Needs Calculator: ⁠https://www.jaystreetgroup.com/real-world-business-funding-calculator⁠ 45+ Ways to Fund Your Business Without a Traditional Business Loan: A curated list of non-loan funding options, with pros, cons, and when to use each. Email us at [email protected] and we’ll send it to you. Just put “no loan funding” in the subject line.See our blog post that goes along with this episode: https://www.jaystreetgroup.com/how-to-get-a-business-loan-start-hereSee this episode on our YouTube channel: https://youtu.be/ItaNiMiBxfYLearn more:For free tools, resources, and consulting for business owners working through the loan process, visit the Jay Street Group website at jaystreetgroup.com/start.Questions? Email us at ⁠[email protected]⁠.Chapters:(0:00) Introduction(1:31) About this podcast & Dan Domino(3:22) Start with why: defining your loan purpose(6:52) How lenders evaluate you: the 5 C's of Credit(7:18) Character(7:44) Capacity(8:07) Capital(8:37) Collateral(9:30) Conditions(10:53) Choosing the right type of loan(11:04) Term loans(11:41) SBA loans(12:38) Equipment financing(13:17) Business lines of credit(13:59) Alternative & online lenders(15:03) Preparing your documents(16:33) Things to watch out for(17:34) The personal guarantee(18:42) What to do if you're turned down(20:12) Using your loan proceeds wisely(21:26) Key takeawaysPrivacy Policy and Terms and Conditions apply.  See them here:Terms and Conditions: ⁠https://www.jaystreetgroup.com/terms-and-conditions⁠ Privacy Policy: https://www.jaystreetgroup.com/privacy-policy