If you determine that your business would benefit from a loan and you’re ready to start reaching out to commercial lenders, it pays to be prepared to talk about your business.
Typically, you’ll talk to a commercial lender before submitting a full loan application. The lender will want to learn more about you, your business, and your financing needs.
Depending on what they learn, they may invite you to work with them and submit a full application. Or they may let you know why they don’t think you’re ready to apply quite yet.
If you are working with Craft3, whenever possible, we’ll connect you with resources so you can get loan ready or otherwise progress on your business journey.
Talking to a commercial lender is an opportunity to make a positive impression. To help you prepare for this important conversation, the table below lists questions you can expect, tells you what a lender will be listening for, and includes space for your answer and notes.
CRAFT3 PRO TIP
I talk to a lot of entrepreneurs. I’m listening for their story, their business and what their needs are. I appreciate learning not just about what they’re doing for business, but why and how they made the decision to be an entrepreneur. When conversations don’t go well, often it’s because of unrealistic expectations or lack of guidance.
-Andrew Mattingly VP, Business Lender
We suggest you read through the questions and then add your answers; if you don’t yet have a ready answer, jot down some notes and questions to help you arrive at an answer. You can also download the worksheet.
Questions About You and Your Business
| What a lender is listening for | |
| What is your business? |
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| How does your business make money? |
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| What sort of entrepreneurial and/or business management experience do you have? |
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Questions About Your Financing Needs and Situation
| What a lender is listening for | |
| What do you need a loan for? |
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| How much cash did you, or are you able to, put into your business and this project? |
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| How will you repay this loan? |
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Keep in mind that a conversation with a lender is not a job interview or an interrogation. A lender will want to learn the basics of your business and how a loan will help you succeed, but if you don’t know how to answer every question that’s OK. In that case, a good response can be, “I don’t know, let me think about that and get back to you.”
CRAFT3 PRO TIP
Use your cell phone to record yourself answering questions- This will help you gauge how comfortable and fluid you are. You might want to do a few takes before listening to your answer.
- Listen for parts that are strong as well as areas that might need more practice.
- How long are your answers? Around a minute can be a good approximate target. Much longer and you may be drifting or repeating yourself. Much shorter and you may not be providing the detail and specificity a lender will be looking for.
-Megan Hulsey VP, Business Lender
Tools and Resources to Help You Get Loan Ready
Thanks for spending time with this resource — and congratulations on taking a meaningful step toward strengthening your business.
This guide is just one piece of the support we offer small business owners. If you're looking for a deeper dive into preparing for financing, check out our comprehensive Definitive Guide to Getting Loan Ready page.
Start with the Basics
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Glossary of Finance and Business Terms Make sense of unfamiliar financial language. You don’t need to talk like a banker — but understanding their terms and mindset can help you communicate more effectively and make smarter decisions.
- Prepare to Discuss Your Business with a Lender one-pager A printable summary of what you’ve learned here — perfect as a prep checklist or to share with a business partner.
- Definitive Guide to Getting Loan Ready e-book in English or Spanish Our comprehensive guide walks you through everything you need to know to confidently prepare for business financing — from strengthening your financials to telling your business story with impact.
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Subscribe for Business Tips Get practical, actionable advice delivered to your inbox — covering everything from business plans to getting documents together.
When You’re Ready, We’re Here to Help
At Craft3, we specialize in working with entrepreneurs who may not fit the traditional mold — and we believe in second chances and fresh starts.
Take the Next Step
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Explore Craft3’s Business Loan Options Learn how we support small business owners through accessible, flexible financing.
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Submit a Loan Inquiry You can start the loan process by completing our online form. A lender will then follow up with you to schedule a conversation.
About Craft3
Craft3 is nonprofit community lender focused on building a thriving, just, and empowered Pacific Northwest. We support entrepreneurs — especially those that have been denied access to opportunity — by offering responsible capital and tools, like this guide, to support you on your business journey.