Precision and planning are the key stepping stones when you are planning to take a loan for your new start up or for business expansion. Different banks will have a different set of criteria and each banks’ requirements will vary. Also, while business loans are unsecured loans by nature, some financial institutions might ask you to provide some sort of collateral from your end as a guarantee. There are numerous business loans available in the market and these business loans can be used for different reasons such as purchasing equipments, vehicles or building inventory, among other things. Just having a brilliant business idea will not help you go all the way. Your ideas will need adequate capital for successful execution. Often many startups fail to gain traction within the early years owing to the lack of financing. So, here are a few tips and pointers to help you boost your chances of getting that much-needed business loan sanctioned. 1. Prepare a business plan The way you envis