More often than not small business owners get denied when they apply for a business loan or business line of credit. As a business owner, you need access to funds in the beginning stages of your venture. Banks simply will not give a small business a loan unless, they have been making a profit for 2 years or more.
To make it harder, the banks will want a Personal Guarantee from you. If you do not have an amazing personal credit file you simply will be put in their denied credit files. There is a systematic way you should go about building credit for your business. Most small business owners do not know how to even start.
To make it harder, the banks will want a Personal Guarantee from you. If you do not have an amazing personal credit file you simply will be put in their denied credit files. There is a systematic way you should go about building credit for your business. Most small business owners do not know how to even start.
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