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Compile the evidence you need to present yourself as a good credit risk. What does a good risk look like?

1. You are someone of good character. You are willing to work hard. You have a proven reputation as a responsible citizen.

2. You have what it takes to run the business. Your credit report shows you have a good track record when it comes to handling money. You have the business skills—acquired through education, practical experience, or both—that you need to make the business a success.

3. You have quite a bit of your own money invested. By investing your own money, you show that you are likely to work to build your investment and theirs.

4. You have collateral to support your primary repayment source.

If any of these statements aren’t true, you may need to find an alternate source of funding. If all of them are true, make sure you have the evidence to show your lender.

A word on credit reports: Expect your lender to check yours. Before you apply for a loan, before your lender points out credit trouble, order a copy and address any problems that might be on it. The largest supplier of consumer and business credit reports is Experian (formerly TRW Information Systems). If you wish to purchase a copy of your credit report using a credit card, you can call them 1-888-EXPERIAN. They can get you a copy in about a week. They also have mail-order forms available on their Web site. If you need help reading your credit report, or if you need to repair poor credit, the Experian Web site (www.experian.com) has information to get you started.