With the banks limiting the type of lending they will provide now more than ever, ACG wants to share some information to help you qualify for financing. We’ll break down the questions you should have ready to answer to get your business the best approval terms. The following questions come straight from out ACG credit team, so you know how to prepare, right from the source.

With the banks limiting the type of lending they will provide now more than ever, ACG wants to share some information to help you qualify for financing. We’ll break down the questions you should have ready to answer to get your business the best approval terms. The following questions come straight from out ACG credit team, so you know how to prepare, right from the source.

1. 3 months of recent bank statements

Provide copies of the full print out of the last three months statements, showing debits and credits for each month. Also, be prepared to provide a copy of the current month.

1. 3 months of recent bank statements

Provide copies of the full print out of the last three months statements, showing debits and credits for each month. Also, be prepared to provide a copy of the current month.

2. A narrative of your business purpose and if it’s essential or not.

What product or service does your company provide? How long have you been in business? Are you considered an essential business by your local governments standards?

2. A narrative of your business purpose and if it’s essential or not.

What product or service does your company provide? How long have you been in business? Are you considered an essential business by your local governments standards?

3. How is the business functioning during this crisis?

a. What changes have you made to sustain the business? How long can you continue with these methods? What capacity were you operating at before the crisis and what capacity are you operating at now?

3. How is the business functioning during this crisis?

a. What changes have you made to sustain the business? How long can you continue with these methods? What capacity were you operating at before the crisis and what capacity are you operating at now?

4. What are your plans to continue business and generate revenue during this time?

Remember that lenders aim to finance businesses that they can trust their cash with. This is your opportunity to explain how your business is being proactive and what you’re doing to sustain the business and keep customers.

4. What are your plans to continue business and generate revenue during this time?

Remember that lenders aim to finance businesses that they can trust their cash with. This is your opportunity to explain how your business is being proactive and what you’re doing to sustain the business and keep customers.

5. Have you applied for the Paycheck Protection Program, Economic Injury Disaster Loan, or any additional loans?

If yes, be prepared to show proof of receiving funds or that your application has been submitted and is being reviewed. How do you plan to use the funds to benefit your business?

5. Have you applied for the Paycheck Protection Program, Economic Injury Disaster Loan, or any additional loans?

If yes, be prepared to show proof of receiving funds or that your application has been submitted and is being reviewed. How do you plan to use the funds to benefit your business?

6. How is the equipment you are requesting essential for the business?

What will the equipment do for the business and how will it help the business thrive during this economic time?

6. How is the equipment you are requesting essential for the business?

What will the equipment do for the business and how will it help the business thrive during this economic time?

Any additional information that you feel necessary to share is welcome. American Capital Group’s goal is to support your business, so preparing yourself helps us better serve you. The more ACG understands your business, the better we can structure financing for your business. We take pride in serving our customers, especially during this crisis. We hope we can help you and your business survive the economical effects of the coronavirus.

Any additional information that you feel necessary to share is welcome. American Capital Group’s goal is to support your business, so preparing yourself helps us better serve you. The more ACG understands your business, the better we can structure financing for your business. We take pride in serving our customers, especially during this crisis. We hope we can help you and your business survive the economical effects of the coronavirus.