Government.mall business loans benefit both small businesses and the lending agency. Before You Apply for a Business Loan Before You Apply for a Business Loan Preparation will speed the process and improve your odds of approval A bank or government agency such as the U.S. In order to apply, you must have completed the following: 5 Obtain a DUNS Dunn & Bradstreet numbers by calling 866-705-5711 or access the Dun & Bradstreet website . In most cases, maintaining a good business credit report is enough to qualify. The grant administrators will be looking for financially healthy organizations that can describe in detail how the grant money will be spent. In fact, it can increase your effective interest rate to 200% or more. 3 Payments calculated based on range of interest rates and repayment terms offered, assuming a loan amount of $10,000. 4 Total Annualized Rate shows all costs for one year in a single equivalent interest rate so that you can make apples-to-apples comparisons. Small business loans are the most preferred option for a majority of small businesses. Small businesses can apply to banks or other financial institutions, like credit unions, for commercial loans.