The only way to know for sure if you will qualify for a business loan is to apply with a lender. Here are some things to consider though if you want to judge for yourself the likelihood that you will be able to score a business loan.

Start Up Businesses

If you’re looking for a loan for a start up business, it might be harder for you. First of all, you will need to have some of your own money to put into the business. Owner equity injection is a key way that lenders are able to see that the future business owner believes in the risk themselves. One option, if you don’t have a lot of cash for start up is to look for a microloan program. These sometimes only require a 10 percent owner equity, though some require at least 30 percent owner equity. The more money you’re willing to put into the business, the better it looks to lenders. Why would they want to take a risk on you if you’re not willing to take a risk on yourself?
Do you have any collateral to secure the loan for your business. Both personal and business assets can be used for collateral. Lenders need to see that there is a way to repay the loan if it goes into default. They’ll also examine whether you’re willing to personally guarantee the loan.

Existing Businesses

If you have an existing business or wish to purchase an existing business, it’s easier for lenders to judge the likelihood that they will get paid back. Still, when a business already exists and is running, that means the bank will want to see more proofs. They will want to know the qualifications of your management team. They will want to see your inventory records, financial records, and marketing plan.
If you’ve never owned a business, you will benefit from entrepreneurial classes. Positive experiences in previous businesses looks even more favorable to business lenders though.

RE/MAX Keys Connection

$20,000,000

101600 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 3,717 SqFt

$6,975,000

243 61St Street Gulf Street MARATHON, Florida

13 Beds 14 Baths 4,461 SqFt

$5,499,000

3428 Roosevelt Boulevard N 1,2,3,4,5,6 KEY WEST, Florida

7 Baths 8,046 SqFt

$4,800,000

3574 Overseas Highway 1-7 MARATHON, Florida

5 Beds 4 Baths 7,706 SqFt

$3,995,000

30770 Overseas Highway Big Pine, Florida

12,560 SqFt

$2,875,000

455 Big Pine Road KEY LARGO, Florida

3 Beds 2 Baths 2,025 SqFt

$2,400,000

100150 Overseas Highway KEY LARGO, Florida

2,436 SqFt

$2,200,000

295 51St Street Gulf MARATHON, Florida

7 Beds 7 Baths 2,614 SqFt

$2,158,000

334 King Avenue KEY LARGO, Florida

3 Beds 5 Baths 1,986 SqFt 0.140 Acres

$1,899,000

2950 Overseas Highway 38 Saddle Bunch, Florida

4,780 SqFt

$1,799,999

4999 Overseas Highway MARATHON, Florida

3 Baths 2,235 SqFt

$1,699,000

23 Corrine Place KEY LARGO, Florida

3 Beds 2 Baths 1,600 SqFt 0.200 Acres

$1,658,000

344 King Avenue KEY LARGO, Florida

3 Beds 2 Baths 1,240 SqFt 0.130 Acres

$1,600,000

233 Ann Bonny Drive KEY LARGO, Florida

3 Beds 2 Baths 1,976 SqFt 0.110 Acres

$1,399,000

99304 Overseas Highway KEY LARGO, Florida

2,131 SqFt

Upscale, Comfortable Commercial Real Estate Office

The RE/MAX Keys Connection office is located in the Historic Heritage House in the heart of Old Town, conveniently located immediately nearby major downtown hotels. Our unique, cafe-style real estate office offers our valued clients a welcoming, upscale, professional environment. Enjoy complimentary beverages, free wi-fi, and a private conference room or expansive front porch, depending on the level of privacy you’re most comfortable with.

Experienced Commercial Real Estate Brokerage Company

RE/MAX Keys Connection’s owner and broker Curtis Skomp is one of South Florida’s top commercial real estate brokers. With over two decades of experience and a CCIM (Certified Commercial Investment Member) designation, Curtis has brokered commercial real estate including industrial properties, shopping centers, strip malls, trailer parks, bars, restaurants, hotels and multi-unit apartment buildings. Unlike many brokers, Curtis isn’t intimidated by bank foreclosures either.
RE/MAX Keys Connection offers clients international exposure with local service. Our service area includes Key West, Big Pine Key, Marathon, Islamorada, Key Largo, and all of unincorporated Monroe County. Our office is fluent in Spanish, which is highly important when doing business in Southern Florida.