Make sure you put your best foot forward when applying for a small business loan with these expert tips.

1. A small business owner today has a wide range of loan options to choose from. More options are always good when it comes to finding business funding, but it can be tricky to figure out which loan is right for you. There are plenty of resources such as this quiz to help you find the answers you're looking for.

2. Lenders will want to know how you intend to use your new funds. Whether you are hiring more employees, expanding to another location, getting new equipment, or purchasing inventory, you should know exactly what the money is going to accomplish.

3. It's important to not ask for too much or too little capital, just as it's important not to ask too little. Your loan application will come across as ill-prepared or naive if your requested loan amount falls too far on either end of the spectrum. Whether you do it on your own or with an accountant, forecast your revenue and profits quarterly to predict how much funding you'll need and when.

4. You have the capacity to repay the loan: you and your lender should both be confident that you can repay the loan on time. Your chances of receiving a loan are much higher if you can prove this in your application. Due to your knowledge of the amount you seek and the purpose of the loan, you should be able to forecast your return on investment and predict when you will be able to pay it back.

Preparing detailed information about your business is the key to a successful business loan application process. Mortgage broker summarizes here the list of documents required for a business loan application, but not every document will be required for every type of loan.

An industry-specific license or registration is your basic business license.

To apply for a loan, you'll need to show proof that you are an owner if your business has multiple owners.

A business plan is not always necessary, but proves your seriousness about your business and helps you obtain a loan.

Customers' list: a list of customers that contains their name, contact information, and amount invoiced.

The Accounts Receivable Aging Statement shows your business's cash flow and how quickly your customers pay you.