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To get a Business Loan is an involved process.  Business Loans require more documentation than applying for a consumer credit.  Therefore, you need not be dismayed because of the massive amount of paperwork that lenders for  Small Business Loans require.  A well-documented and a skillfully put-together business plan is the most effective thing that you can bring to the lender. You need to state the loans purpose.  Will the money be used for acquiring equipment, for expanding your facilities or for a temporary working capital.  Aside from the purpose, state also the funds you wanted, for how long and the schedule for repayment.  To be effective, your business plan need to include a business description, personal profile, application, reimbursement plan, supporting documents, collateral, financial statements and personal guarantee.

A personal guarantee of the owner or of the additional principals are necessary even if you already have an established business.  Lender might also ask for security of added party like a consigner or surety or they may call for government guarantee from US Small Business Administration or government agencies like those.  Aside from the personal promise, the lender is also permitted to ask for guarantee from additional person and that is under the Equal Credit Opportunity Act.