Obtaining A Loan For Your Small Business

It’s not easy.

Michael Trigg

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Photo by Konstantin Evdokimov on Unsplash

Accessing small business financing can be the bane of many small business owners. Traditional banks are not there for start-ups and small business owners who have only been in business for a short period of time. Traditional banks generally require substantial collateral for small business loans applications and even then, there is no guarantee of approval.

So where does that leave your business startup and your need for a bank loan?

If you need a small business loan and your startup has no sales history, your only option is non-traditional banking sources. That’s where the good news lies. The advent of online banking and peer-to-peer lending tends to cater to small business and startups.

The internet has opened up many options for small business owners like you, most online banks offering a wide range of loan options for small businesses.

Important Questions

The following is a number of questions that small business loan applicants like you ask when determining the if’s and’s and but’s of applying for small business financing.

  • How do I get a small business loan for my company when my credit score is marginal and traditional banks are not an option?
  • How do I get that small business loan?
  • Where do I go to get the best business loans for my small business?
  • What are the best business loans for small businesses like mine?
  • What are the risks when I apply for a small business loans online?
  • How much capital will a bank provide?
  • Is the bank looking at the credit score for both me and my business?
  • How will a bank work with me if there is a downturn in the economy?

All these are important questions and I am sure you have many more. This is where you have to carry out due diligence and research for your small business loan.

Photo by Towfiqu barbhuiya on Unsplash

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Michael Trigg

A “Jack of all Trades” and master of some: Mechanic, Writer, Sales Rep, TV producer, Management, Insurance Agent, Consultant www.handshakeconsultants.com