Before applying for a business loan, it's crucial to check your business loan eligibility criteria. Banks and financial institutions typically consider your annual turnover, years in business, credit score, profits, and financial health. A strong financial profile and a good track record make it more likely that your application will be approved quickly and at a reasonable rate of interest. Some lenders may also require collateral or a guarantor, depending on your business's profile. Knowing all this beforehand lets you gather documents in advance and avoid last-minute disappointments. It’s a key step in securing the funding you need to grow, innovate, or conquer new markets.