How to Put Together a Financial Management Package for a New Business Loan | Small Business

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Financing is a key for new businesses, but convincing a bank or other lender to provide a loan isn’t always quick or easy. Preparation of a strong financial management package can speed up the loan process and even make the difference between obtaining financing and not. A financial management package will include a letter or summary describing you, your business and a summary of the purpose of the loan. It also includes a detailed description of the loan, how you will use the money and how you plan to pay it back. It will include budget projections and other business financial information as well as any legal documents associated with your business. It will usually require summaries of your personal financial situation well.

Letter or Summary

The first component is a two-to-three page cover letter or executive summary that clearly describes you, the nature of your business, the amount you

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BBB warns college students of COVID-19 scams

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According to the BBB, scammers are using phishing emails to get college students’ personal information.

GREENSBORO, N.C. — The Better Business Bureau wants college students to be on the alert for COVID-19 scams. Research shows younger people aged 20 to 30 lose money to fraud more often than older consumers.

According to the BBB, scammers are using phishing emails to get college students’ personal information. The email claims to be from the school’s “financial department.” But, the email is not connected to the financial department.

The email encourages students to click on a portal link to get a message about a COVID-19 economic stimulus check. After clicking on the link, students are required to submit a university login.

The BBB is strongly encouraging students to avoid opening the email or clicking on the “log-in” link. If not, students’ could be giving their user name, password, or other personal information to

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