4 Mistakes Leading to Business Loan Rejections

It’s the dream of many Americans to open their own business. In fact, statistics show that small businesses which mean companies with fewer than 500 workers make up for 99.7% of all companies throughout the United States. That being said, it’s understandable to not have enough personal funding to accomplish this goal. Therefore, many people seek to obtain business loans. If you’re needing to obtain a business loan, it’s important to be prepared. With that in mind, here are four common mistakes that cause small business loans to be rejected.

  • Not Having Personal Credit in Order

    It’s important that those trying to obtain business loans have personal finances in order. Lenders will be looking at your past credit history. If you have a history of not paying back debts, this might make lenders skeptical. Therefore, it’s important for people to take care of perso Continue reading 4 Mistakes Leading to Business Loan Rejections