At some point in their history, many small businesses will need a loan to expand.

Maybe it’s for adding equipment, launching a new product line, or marketing your product or service.

Financial website NerdWallet offers five things small business owners need to do to successfully apply for the funding.

Here’s a summary:

• Think about whether you really need a loan and how it would help your business.
• Compare different forms of loans to find the one that suits your needs.
• Compare lenders to find the most favorable terms and lowest cost.
• Check your credit score.
• See what documents you need to submit and have them ready.

Read the rest of the story.

The Delaware Division of Small Business can help you start or expand your small business. Contact us to see how we can help you.