Business Loans
When Banks say : “No”, PMHDC says “Let us show you how to become loan ready.”
Applying for a business loan can be intimidating to some business owners, especially entrepreneurs that are just starting out. PMHDC understands this challenge and provides practical assistance to help you overcome the obstacles you face.
PMHDC will show you how each of the following elements have an impact on your ability to have your loan application approved.
Collateral 
Most lenders – whether a bank or a microlender like PMHDC – require you to pledge assets toward the debt you’re about to undertake. However, the way your collateral (vehicle, equipment, land/building, etc.) is valued may differ from lender to lender.
Credit History
How you have handled debt in the past has an impact on your ability to acquire new debt. PMHDC reviews both business and personal credit history. A “perfct” credit history is not required at PMHDC, but your history must show your commitment to repaying debt.
Business Plan
Demonstrating that you have taken the time to study your target market as well as develop financial projections shows the lender how serious you are about this business. Don’t know how to develop and write a business plan? Ask us! PMHDC will help you either through our one-on-one assistance or training or by referring you to another small business assistance partner.
Loan Process
