Lenders make decisions based on numbers — but they fund people. Your loan story tells them who you are, why you need this loan, and why you'll pay it back. Answer each section honestly and in your own voice. Groundwork. will use this to build your business plan and credit narrative.
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All 6 sections saved. This narrative will flow directly into your business plan and credit presentation in the next modules.
1
About you and your business
Who are you, what do you do, and why did you start this business?
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Your background, your experience, what inspired you to start this business, and what makes you the right person to run it.
Tip: Write like you're talking to a trusted advisor — honest, clear, and confident.
2
What the loan is for
Exactly how will you use the funds?
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Be specific — what will you buy, build, or pay for? How does each dollar support your business goals?
Tip: Break it down by dollar amount if possible — e.g. "$14,000 for equipment, $5,000 for inventory."
3
How you'll repay the loan
Show lenders you've thought about repayment
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Your revenue sources, how the loan will generate or support income, and your confidence in making payments.
Tip: Reference your DSCR if it's strong — "My business generates $1.40 for every $1.00 of debt payments."
4
Your financial track record
Demonstrate your financial responsibility
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Credit history, payment history, how you've managed money, any improvements you've made to your financial situation.
Tip: If your credit improved, say so — "My score rose from 640 to 680 over the past 18 months."
5
Your market and customers
Who needs what you offer and why now?
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Who your customers are, why they choose you, any contracts or confirmed revenue, and the market opportunity.
Tip: Confirmed contracts or letters of intent are gold here — mention them specifically.
6
Why this loan, why now
Make the case for timing and fit
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Why is this the right time for this loan? What opportunity will you capture or what problem will you solve that you can't without it?
Tip: End on a forward-looking note — what does success look like 12 months after funding?
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Customer Testimonials (Optional — highly recommended for startups)
What do your customers, partners, or community say about your business? Real quotes add credibility to your loan story and business plan.
💡 Customer Discovery tip: Not sure what your customers think? Ask 3-5 of them this question: "What problem does my business solve for you, and would you recommend us?" Their answers become your most powerful marketing tool — and lenders love to see it.
SCORE Customer Discovery Guide →