Article: Applying For A Business Loan: Putting Your Best Foot Forward
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Applying For A Business Loan: Putting Your Best Foot Forward
Remember the book called ?Catch 22?? It is now commonplace to call a ?Damned if you do, and damned if you don?t? situation a ?Catch 22?. This is a predicament that many small business owners have found themselves in. Running short of cash, the owner goes to the bank to borrow money, only to find that they don?t qualify for a loan because they don?t have enough money. This is quite maddening to the business owner who laments, ?If I had enough money, I wouldn?t be asking for the blankety-blank loan!?
Seems kind of stupid, but you have to understand what bankers are up against. Number one, they have to have some assurance that they are going to be repaid. They have to sell this loan to the ?loan committee? of the bank, and they are not about to present a package that will make ...
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