This might seem like an easy question to answer. But many business owners have only a general idea of how much they need, without being sure of the exact amount. What’s worse, many don’t have a clear idea of how much they can afford to pay back. If you borrow more money than necessary, that can turn into a dangerous situation. Before you approach a lender, figure out how much money you truly need. Make sure your monthly payments won’t negatively impact cash flow.  
The amount you want to borrow will also help lenders determine the right loan for you. If you’re covering startup costs of less than $50,000, a microloan may be the best option. If you need a larger amount of money to purchase equipment, equipment financing might make more sens e.