Category Archives: Business Loan

3 Tips For Qualifying For a Business Loan

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Since the economic recession in 2008, lending levels at banks have increased moderately. As the economy continues to grow and recover, entrepreneurs turn to banks and other lending sources to help in expanding their businesses to keep up with market demand. As a result of the Great Recession, most banks have restructured their business lending criteria to reflect increased scrutiny of business loan proposals and this makes it harder for business owners to qualify for a business loan.

How to Get a Business Loan

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Money makes the business world go round. Obtaining a stable and flowing financial source is a major factor whether you are planning on a new business or growing an existing one. There are a lot of new entrepreneurs who are daunted by the task of getting a loan and don’t even know where to begin.
Here is a practical guide on how to prepare yourself and your business idea as you apply and successfully get a business loan.

Top 2 Reasons For Business Loan Denials

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For the previous five years, there has been an increase in commercial financing sources in the US. Specifically, there has been a proliferation in the alternative lending market that fills the need of business owners that do not have the credit (personal or business) or operating capacity to gain approval for traditional bank financing. Although helpful for the short-term, many of these alternative lending sources “trap” business owners into loan structures with high payoffs and abnormally high interest rates.