The Fastest Way to Finance Your Small Business

If you own your home, a home equity loan is another option. If you go through the company that holds your mortgage, you can reduce the approval time even further. Of course, there may be significant

If you can show that you have significant receivables due in the near future, you may be able to use them as collateral for your loan. Rates for accounts receivable loans are higher than most other commercial loans, but they can be useful to even out your cash flow if you have no other collateral to show.

The loan application package

Another way to expedite the loan process -- and to help ensure approval -- is to present an attractive application package. Here are some of the components of a solid loan application package:

• Good credit history and rating
• 35 percent of combined personal and revolving credit available, including credit cards and lines of credit
• No excessive late payments, collection activity, charge-offs, judgments, tax liens, repossessions, or bankruptcies
• Strong financials that are consistent with your credit history
• Verifiable income and profit
• Sufficient assets to use as collateral.