Of the millions of small businesses that apply for bank loans each year, many of them are almost qualified, for several reasons. There are times when the business owners personal credit score is not high enough for bank guidelines. There are times when a business had a strong prior year and they are waiting for their accountant to complete their corporate tax return. It is also common for businesses to be profitable- with strong guarantor credit, however they are in business less than two years- which is a traditional bank underwriting requirement.
Whatever the reason is, identifying what needs to improve and addressing the issue(s) is often half the battle. If your Bank has said ‘not yet’ the team at SBA-Express.com can transparently create a path for your business to follow to receive the lowest cost of Capital so you can flourish.
