Not everybody can get one, but almost all small businesses need one at some point. What is this prized asset? The small business loan.

Businesses generally apply for loans to help finance operations or plans for expansion. After qualifying for a loan, businesses make monthly payments that include a portion of the original amount borrowed -- the principal -- plus interest to the bank.

Getting approved for a loan is the major hurdle, and this buyer's guide provides tips on ways you can try to improve your chances of securing a loan so you can take your business to the next level.