Banks Say No

Posted by Chris Curtin on Jul 25, 2012 in Alternative Financing, Business Tools, Startup Financing | 2 comments |

Banks Say No

What to do when the banks say no to your business loan request? Well first let’s discuss the reasons a bank could say no to your loan request and what you can do about it: Wrong Bank: There is a very good chance that you are at the wrong bank. Every bank has a sweet spot for loans and your loan request might not be in it. Some banks are only “dirt banks” i.e. they only lend against real estate. Some banks do not do any SBA backed loans or loan against inventory. All banks have a legal lending limit based on their capital...

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