Applying for a small-business loan is not a simple endeavor even before factoring in the multitude of loan products and various lending institutions. The more knowledge you have before you begin filling out applications, the more prepared you will be for the inevitable curveball. These six subjects can give you a great head start.

1. Research Your Loan Options

From conventional commercial loans to business lines of credit to SBA loans backed by the U.S. Small Business Administration, there’s likely a solution perfect for your company’s goals. Terms vary by bank, but the basic structure of financial products ranging from equipment loans to are similar enough for a general understanding.

2. Identify Potential Lenders

The number of modern lending institutions is nearly as vast as the range of financing they offer. First, identify the types of lenders, their eligibility requirements, and their standard terms. For example, traditional banks often have the highest qualification standards, the most competitive interest rates, and the most money to lend. Use the information to narrow down your best bet and start researching individual lenders.

3. Understand Your Creditworthiness

To appreciate how potential lenders will assess your risk, take the time to investigate your business and personal credit history. Get a complete understanding of your company’s financial standing, including debts, assets, investors and accounting procedures. Make sure your financial statements are thorough and accurate.

4. Know What Documents You Need

Financial institutions need documented proof of your financial and business standing. A lender can tell you what tax, bank and legal paperwork they require. If not, you can find standard lists online. Keep in mind that requesting copies of federal or out-of-state documents could take time.

5. Make a Plan

Before you even walk into a bank, you should know how much you want, how you plan to use it, and how you expect to repay it. As you research lenders and consider your ideal loan, note the typical interest rates and term lengths of each type. Use that information to assemble a reasonable proposal and determine what kind of collateral or guarantee you’re willing to put up in exchange.

6. Study the Loan Process

Learn as much as you can about the small-business financing process, including the key elements and terminology used in loan documents and the basics of SBA loans. Find articles with tips for successful applications and investigate alternative lending options in case your bank doesn’t approve the loan.

After your begin applying, keep reading and pay attention to the process. Even if you fail at first, you’ll continue learning how to maneuver into more favorable positions.