When looking to get extra cash flow to start or grow your business, it is important to research exactly what your business needs before making a request to a bank, or any other institution or person, for that matter, for funding.

According to Yoco, a fintech startup company, there are six important criteria to consider when looking for finance.

Here’s what to consider:

  • How much money you’re looking for
  • The interest rate when having to repay the loan
  • The manner in which you ask for funding (face-to-face versus email etc)
  • How easy it is to apply for the funding
  • The terms of the loan
  • The repayment terms

READ MORE: INFOGRAPHIC: 4 reasons why your funding could be declined