Over 70% of small business loan applications encounter rejection, often due to the fact that applicants misjudge what lenders actually require. The difference between approval and denial often depends on preparation, not solely the viability of your business. This article unpacks how to secure a commercial loan and sidestep becoming the alarming re
How to Qualify for a Commercial Loan: Avoid the 70% Rejection Rate
Over 70% of small business loan applications face rejection, often since applicants misjudge what lenders prioritize. The difference between triumph and failure usually comes down to preparation, not just the strength of your business. Let’s dive into how to obtain a commercial loan and evade turning into the staggering rejection statistic.Why Do
How Does a Business Line of Credit Affect Your Personal Score? What Lenders Don’t Tell You
Your business might be silently undermining your personal credit score, and you might not even notice it. An astonishing 73% of small business owners are unaware of how their business credit decisions influence their personal finances, potentially resulting in significant expenses in elevated borrowing costs and rejected credit applications.So, can
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You should utilize a personal bank loan for nearly any intent, using a couple exceptions. LendingClub Bank associates generally use personal loans to pay off credit cards at a decreased charge, consolidate credit card debt, or look after unpredicted home repairs and health-related charges.Application approvals and the level of any credit for which