Small businesses are often referred to as the engine of our economy, driving as much as 64% of new private-sector jobs in the United States. When small-business owners face the dilemma of obtaining financial backing to sustain operations, expand the business, or purchase inventory, they frequently turn to small-business loans. Nearly three-fourths of all small […]
In order to obtain a business loan, many (if not most) loan providers will take a hard look at your credit score. That makes sense since your personal credit score and your business credit score are fairly strong indicators to lenders as to whether or not you’re a reliable borrower. Your credit score(s) will serve […]
Having your loan application rejected is a wake-up call that your credit or business health isn’t as strong as you thought (or hoped) it was. It can be a very demoralizing experience—especially if you were counting on that financing to sustain your business operations. When a loan application is denied, it can usually be traced […]
What to Do if Your Loan Application Is Rejected banking.about.com – If your loan application is denied, you might wonder what to do next. Why were you denied, how long do you need to wait before applying again, and what steps can you take to prevent it from happening again? It’s important to understand exactly what […]
Strong business credit won’t guarantee that you’ll be approved for a loan, but it does improve your chances. Here are five things lenders really look for.
This question may seem almost insulting to some business owners. But you'd better have a good answer before you start applying for loans.
Being self-employed puts you at a disadvantage when you're applying for a loan — but planning and preparation can make a huge difference.
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