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WELCOME TO OUR BLOG PAGE

Welcome to our blog. We hope that you will find these articles interesting and helpful in nature. We invite you to peruse through the new blogs and older entries to keep yourself updated on industry news, financial tips, business advice, and more.

If you are ready to discuss business loans for your company, give Business Loan Approval Group a call today to start your business loan approval.

WHAT’S KEEPING YOU FROM GETTING A BUSINESS LOAN?

When you attempt to obtain a business loan through a bank, you may be turned down. Do not take it personally as it happens to most business owners. If you are not sure why you were turned down, consider the following common things that can prevent you from getting one.

1. Insufficient Cash Flow

If you don’t have any money on hand, you can be sure the bank lenders will run in the other direction. You should always make sure you have a positive cash flow as this will increase your chances of obtaining a loan.

2. You Don’t Know Your Numbers

If you do not have your paperwork in order and you do not know the numbers of your business by heart, lenders will not take a second look at your application. Make sure to get all of your documents in order and study your business’s number BEFORE talking to a lender.

3. Not Future in Sight

All businesses should have some sort of idea about their future and how they plan to grow or expand, but if you do not, then you will not impress lenders. Financial institutions want to know that you have some sort of road map to success and they want to know that you plan to make money six months from now and five years from now.

4. Bad Credit History

We all know that bad credit history is something that you need to really take into consideration when applying for a loan. You will quickly be turned away when you have a negative history, sometimes even when the history is five years old.

Business Loan Approval Group is here to help you obtain a business loan despite your circumstances. Call us now!

Here is the list of states Business Loan Approval Group Operates in

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