4 mistakes to avoid when applying for a business loan

Jan 12, 2014 | Leadership & Culture

Four Mistakes to avoid when applying for a business loan

1. Asking for more than needed. The greater the amount you request, the harder it will be to prove to the bank that you can afford to repay.
2. Rushing the application process. Makes bank officers cautious.
3. Not providing information about the directors of a small business.
4. Inflating the value of business assets.- banks use standard market value for quick sale.BRW Nov 26-Dec 2009

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