Factors That Will Decide the Fate of Your Small Business Loan
Sooner or later, your business is going to need funding from a bank. When approaching one, it is helpful to know the factors a bank is going to take into consideration when evaluating your application. With this in mind, let’s take a look at the key issues.
The five factors what will affect the qualification of a small business loan
1. Credit history – The bank will be interested in the credit history of your business. This is not the same as your personal history. A business credit score will be associated with the tax id number of your business while your personal credit score will be associated with your social security number. As a precaution, make sure that you have looked at the most recent credit report history on your business to see if all is well. Sometimes, there might be a possibility of a mistake which you can …