--- title: Four Things You Will Need To Get A Business Loan description: Many businesses use loans to facilitate their success. If you've ever wondered what you would need to get a business loan, here are some tips from RMCU. image: https://rmcu.net/hubfs/iStock-1003743872_c.jpg --- [![RMCULogoColor.jpg](https://rmcu.net/hubfs/RMCU-logo.svg "RMCULogoColor.jpg")](https://rmcu.net) [Online Banking Login](https://banking.rmcu.net/auth/signin) [Online Banking Login](https://banking.rmcu.net/auth/signin) [![RMCULogoColor.jpg](https://rmcu.net/hubfs/RMCU-logo.svg "RMCULogoColor.jpg")](https://rmcu.net) - - [Home Loans](https://rmcu.net/home-loans) - [Personal](https://rmcu.net/personal) - [Business](https://rmcu.net/business) - [Membership](https://rmcu.net/membership) - [Careers](https://rmcu.net/membership/about-rmcu/careers) - [Contact Us](https://rmcu.net/contact-us) - Search - [Financial Education ▾](https://rmcu.net/blog/get-a-business-loan-2019#financial-education-nav) - [About RMCU ▾](https://rmcu.net/blog/get-a-business-loan-2019#about-rmcu-nav) - [Security](https://rmcu.net/membership/security) - [TruStage: Security Alert](https://rmcu.net/trustage-security-alert) - [Money Mastermind](https://rmcu.net/money-mastermind-lessons) - [Financial Counseling](https://rmcu.net/financial-counseling) - [Savvy Money](https://rmcu.net/membership/financial-education/savvy-money) - [Blog](https://rmcu.net/blog) - [Resources](https://rmcu.net/resources) - [RMCU Team](https://rmcu.net/membership/about-rmcu/rmcu-team) - [Member Information](https://rmcu.net/membership/about-rmcu/member-information) - [Annual Meeting](https://rmcu.net/membership/about-rmcu/annual-meeting) - [Community](https://rmcu.net/membership/about-rmcu/community) - [Our History](https://rmcu.net/membership/about-rmcu/history) [back to blog](https://rmcu.net/blog) [In The Community](https://rmcu.net/blog/topic/in-the-community) # Four Things You Will Need To Get A Business Loan Read Time **2 mins** | Written by: Kelly Fleiner [mailto:?subject=Four%20Things%20You%20Will%20Need%20To%20Get%20A%20Business%20Loan&body=https%3A%2F%2Frmcu.net%2Fblog%2Fget-a-business-loan-2019](mailto:?subject=Four%20Things%20You%20Will%20Need%20To%20Get%20A%20Business%20Loan&body=https%3A%2F%2Frmcu.net%2Fblog%2Fget-a-business-loan-2019)   ### Montana Registered Business The first important item is registering your business with the [Montana Secretary of State](https://sosmt.gov/). This is a requirement to do business in the state of Montana as well as to obtain a business loan. Montana is a unique state with lots of small businesses and the SOS website is a great resource. You can also use this website to file your annual report, renew your business license, etc. Signing up for your E-Pass with the state is where you begin. This site gives you lots of need-to-know info for conducting business in Montana.  ### Historical Perspective A second item in getting a business loan relates to history. This takes into account both you personally, and the history of your business. It is rare that a traditional lender will write a loan for a brand new startup so we typically look for at least a two-year operating track record. We are looking to see if your business is a good investment for the credit union. We analyze the business cash flow, operating expenses, and the collateral being offered by your business. ### Financials Third, current financial information is required for the business and any majority owners of the business. This includes tax returns, financial statements, credit reports, accounts payable and receivable aging reports, inventory listings, collateral information, etc. The more prepared you are, the smoother the process is. There is a helpful checklist available from RMCU to help you navigate the world of getting a business loan. [Click here to check it out.](https://rmcu.net/hubfs/Campaigns/Commercial/Commercial%20Content%20Offers/RMCU_CommercialLoan-Checklist.pdf?__hssc=27616547.1.1558453839059&__hstc=27616547.92589d4e57dd8ad1e4573df883b0d2dc.1558383382267.1558383382267.1558453839059.2&__hsfp=3496322502&hsCtaTracking=6b84349e-47c6-4db5-afef-6c7b27a66bbe%7Cf6a2388e-c171-403a-9ac4-30f47b072254)   ### Your Business Plan Finally, a business plan is important and sometimes required, to include with your application. The Small Business Administration has a great article on [how to write a business plan](https://www.sba.gov/course/how-write-business-plan/). This is all a part about getting the vision and larger picture of where you are and where you want to go. This little discipline for business owners often separates the businesses who thrive from those who only tread water.. ### Ready to Go? If you have these items ready to go before you start, you will begin ahead of the game. Review the checklist above to see what accompanies these four important items when seeking a business loan. For more information on business loans and services, please contact [Alan DeWit or Connie Robinson](https://rmcu.net/rmcu-commercial-contact-lp) today.   ***If you enjoyed this blog, you might enjoy these other related blogs: *** - [4 Reasons to Invest in Commercial Real Estate](https://rmcu.net/blog/home-trends-what-is-really-worth-your-money-0) - [Credit Unions vs. Banks](https://rmcu.net/blog/credit-unions-vs.-banks) - [10 Tips for Small Business Owners in Montana](https://rmcu.net/blog/10-tips-for-small-business-owners-in-montana)    [mailto:kfleiner@rmcu.net](mailto:kfleiner@rmcu.net) ##### Kelly Fleiner Kelly Fleiner, CUBDP is the Vice President of Brand and Community Engagement at Rocky Mountain Credit Union, where she leads marketing, public relations, and community impact initiatives rooted in Montana values. A strategic storyteller and culture champion, Kelly blends data-driven insight with people-first leadership to strengthen brands, empower teams, and deepen community connections. She is passionate about elevating the credit union movement through bold ideas, meaningful partnerships, and authentic engagement. Share the Love [mailto:?subject=Four%20Things%20You%20Will%20Need%20To%20Get%20A%20Business%20Loan&body=https%3A%2F%2Frmcu.net%2Fblog%2Fget-a-business-loan-2019](mailto:?subject=Four%20Things%20You%20Will%20Need%20To%20Get%20A%20Business%20Loan&body=https%3A%2F%2Frmcu.net%2Fblog%2Fget-a-business-loan-2019) You May Like These ## Related Articles ![](https://rmcu.net/hs-fs/hubfs/iStock-869619568_c.jpg?width=700&name=iStock-869619568_c.jpg) In The Community ### [The Basics of Small Business Lending](https://rmcu.net/blog/small-business-lending-2019) Thinking about starting your own business or already own one and ready for your first business loan?... Keep Reading ![](https://rmcu.net/hs-fs/hubfs/iStock-955988522.jpg?width=700&name=iStock-955988522.jpg) In The Community ### [What the Heck is an Operating Line of Credit for Your Business?](https://rmcu.net/blog/what-is-an-operating-line-of-credit-for-business) Small businesses need capital to survive especially when the economy changes. A good source for cash... Keep Reading ![](https://rmcu.net/hs-fs/hubfs/Blogs/Grow%20Your%20Business%20and%20Get%20That%20Small%20Business%20Loan.jpg?width=700&name=Grow%20Your%20Business%20and%20Get%20That%20Small%20Business%20Loan.jpg) Tips from the Pros ### [Grow Your Business and Get That Small Business Loan](https://rmcu.net/blog/grow-your-business-and-get-that-small-business-loan) Are you looking to get a small business loan for your business? You don't have to struggle through i... 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