--- title: "Pace Your Business Loans: Here's Why" description: "\"Shooting for the moon\" demonstrates enthusiasm in many aspects of managing a business. But when it comes to business loans, it's important to stay grounded." image: https://go.hfcu.org/hubfs/images/4_business.jpg --- [![MoneyWisdom_HFCU_r2](https://go.hfcu.org/hs-fs/hubfs/MoneyWisdom_HFCU_r2.png?width=464&name=MoneyWisdom_HFCU_r2.png "MoneyWisdom_HFCU_r2")](https://go.hfcu.org/blog) Filter by Category** - [Show All](https://go.hfcu.org/blog) - [Security](https://go.hfcu.org/blog/topic/security) - [Personal Finance](https://go.hfcu.org/blog/topic/personal-finance) - [Auto](https://go.hfcu.org/blog/topic/auto) - [Business](https://go.hfcu.org/blog/topic/business) - [Credit Score](https://go.hfcu.org/blog/topic/credit-score) - [Home](https://go.hfcu.org/blog/topic/home) - [Credit Cards](https://go.hfcu.org/blog/topic/credit-cards) - [Life Changes](https://go.hfcu.org/blog/topic/life-changes) - [Insurance](https://go.hfcu.org/blog/topic/insurance) - [Investments](https://go.hfcu.org/blog/topic/investments) Filter by Category** - [Show All](https://go.hfcu.org/blog) - [Security](https://go.hfcu.org/blog/topic/security) - 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But when it comes to [business loans](https://www.hfcu.org/loans-and-credit-cards/business-lending.html), it’s important to stay grounded. Obtaining too large a business loan may initially seem satisfying, but can prove problematic in the long term. Think, for instance, if you were approved for a loan beyond your means and your business stumbles. Rather than focusing on what likely matters most at that time – like customer service or marketing – instead you may spend valuable time juggling your finances. ### Fueling Your Next Stage Think about Apollo 11, the historic spaceflight that landed the first humans on the moon. You may recall that the astronauts didn’t get to the moon and back in a single rocket shot, but rather through a series of rockets fired in stages. [Business loans](https://www.hfcu.org/loans-and-credit-cards/business-lending.html) work in similar fashion – not disbursed in a single “moon shot” but rather reviewed, approved and distributed in stages to individual businesses as they evolve and require additional funds to fuel their growth. For business owners, this means thinking about your external financing in increments: “What do I want to accomplish over a specified time, and what additional resources will I need to get there by then?” Your lender, in turn, will ask for documentation of your interests. This will likely include your work history and references (if you’re applying for start-up financing), a business plan, credit report, tax returns, financial statements and accounts payable/receivable. You may also be asked to provide collateral and legal documentation (such as licenses, contracts, leases, etc.). You should also be prepared to answer the following standard business loan questions: - Why are you applying for this loan? - How will the funds be used? - What assets, if any, need to be purchased and who will be supplying them? - What are your other debts, and who are your creditors? - Who comprises your management team? - What is your personal background? ### Rely on Our Expertise When assessing lenders, consider not only the funding you immediately need but also the long-term relationships you can build in the process — to assist now and at your next growth stage. Please contact our lending team at CommercialLending@hfcu.org , about your plans. We’re eager to help your business grow.   Related Blogs: [What is the best way to get a small business loan?](https://go.hfcu.org/blog/bid/156108/What-is-the-best-way-to-get-a-small-business-loan) [![large CTA button to download Hanscom FCU investment property guide](https://no-cache.hubspot.com/cta/default/118438/d6374387-115f-4825-b501-464f4a1a1641.png)](https://cta-redirect.hubspot.com/cta/redirect/118438/d6374387-115f-4825-b501-464f4a1a1641) ** [Business](https://go.hfcu.org/blog/topic/business) [** Seven Popular Mobile Banking Activities ](https://go.hfcu.org/blog/seven-popular-mobile-banking-activities) [** Pace Your Business Loans: Here's Why ](https://go.hfcu.org/blog/how-do-i-grow-my-business-and-manage-cash-flow-0) ### About Author ![Default Author Image](https://cdn2.hubspot.net/hubfs/476360/Blog%20Template/Images/default-author-thumbnail.jpg) MoneyWisdom Newsletter Related Posts [![Navigating Financial Challenges After a Job Loss](https://go.hfcu.org/hubfs/iStock-1444494544.jpg) Navigating Financial Challenges After a Job Loss ](https://go.hfcu.org/blog/job-loss) [![What is the best way to get a small business loan?](https://go.hfcu.org/hubfs/two%20women%20restaurant%20owners.png) What is the best way to get a small business loan? ](https://go.hfcu.org/blog/bid/156108/what-is-the-best-way-to-get-a-small-business-loan) [![Questions to Ask Before Investing in Real Estate](https://go.hfcu.org/hubfs/investment%20property%20on%20deck.png) Questions to Ask Before Investing in Real Estate ](https://go.hfcu.org/blog/bid/183562/is-investment-property-ownership-right-for-you) ** - [**](http://www.facebook.com/share.php?u=https://go.hfcu.org/blog/how-do-i-grow-my-business-and-manage-cash-flow/) - [**](https://X.com/share?url=https://go.hfcu.org/blog/how-do-i-grow-my-business-and-manage-cash-flow/) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://go.hfcu.org/blog/how-do-i-grow-my-business-and-manage-cash-flow/&summary=&source=CeBIT) ## You are Leaving Hanscom Federal Credit Union #### **Please read the following before proceeding to:** The website you are about to visit is solely the responsibility of the merchant or other party providing the site. 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Moreover, Hanscom Federal Credit Union's privacy policies do not apply to any of the linked websites within this blog. Please consult the privacy disclosures on those linked sites for further information. ```json { "@context": "http://schema.org", "@type": "BlogPosting", "mainEntityOfPage":{ "@type":"WebPage", "@id":"https://go.hfcu.org/blog/how-do-i-grow-my-business-and-manage-cash-flow" }, "headline": "Pace Your Business Loans: Here's Why", "image": { "@type": "ImageObject", "url": "http://cdn2.hubspot.net/hubfs/118438/images/4_business.jpg" }, "datePublished": "2015-06-26 12:59:00", "dateModified": "April 18, 2024, 8:30:01 PM", "author": { "@type": "Person", "name": "MoneyWisdom Newsletter" }, "publisher": { "@type": "Organization", "name": "Hanscom Federal Credit Union", "logo": { "@type": "ImageObject", "url": "https://cdn2.hubspot.net/hubfs/118438/Logo%202.jpg" } }, "description": ""Shooting for the moon" demonstrates enthusiasm in many aspects of managing a business. But when it comes to business loans, it's important to stay grounded. " } ```