Here are six questions a lender will typically ask you.

• How much money do you need?
• What does your credit profile look like?
• How will you use the money?
• How will you repay the loan?
• Does your business have the ability to make the payments required under the loan?
• Can you put up any collateral?

  Is it bad to decline a loan?

  Specifically, if you continue to seek loans you don’t have the credit history to get, you can rack up numerous hard inquiries, and those can lower your credit score. So while a rejection doesn’t cost you any points, your actions after a rejection can ruin your good credit score.

  What should I ask before applying for a personal loan?

  Click here to read our full advertiser disclosure. CNBC Select covers ten questions you should ask yourself and your lender before applying for a personal loan, from APR to how fast you receive the funds. Select’s editorial team works independently to review financial products and write articles we think our readers will find useful.

  What should I ask before applying for a Small Business Administration loan?

  For example if you’re seeking a Small Business Administration loan, Arora recommends you provide the last three years of business and personal tax returns, personal financial statements and financial projections for the next 12 to 24 months.

  What should I know before taking out a bank loan?

  When you take out a loan, find out if you’re free to pay it off early without any penalty. Some states allow lenders to charge prepayment penalties, in which case you should try to negotiate a compromise.

  Is it okay to ask an employee for a loan?

  Thank you to all have sent comments. God bless. As an employer, I’m willing to make a small loan (under $1,000) to an employee or to pay a paycheck a week or two in advance. However, I really don’t appreciate it when the same worker asks for paycheck advances repeatedly. Makes me distrust the worker. Just a word of warning for employers.