Applying for a business loan takes plenty of time, energy, focus, and preparation. So the last thing you want to happen, after putting in all of that effort, is to get your application turned around by a lender.
Sometimes, your business loan application will be rejected or delayed for a fairly obvious reason—a low credit score, missing important documentation, not enough cash coming in. Those are normal problems, and you can probably think ahead to figure out where you’re application is weakest on those fronts.
But what about some of the sneakier problems that can prevent you from getting the financing you need, when you need it? What about those criteria that you’re not really aware of, or that your lender doesn’t completely explain upfront?
We’ve pulled together explanations of 9 surprising obstacles to receiving funding, as well as tips for how to avoid running into them.
Check out our free eGuide to learn more!