How Hard is it to Get a Small Business Loan?

Securing financing for any business is a major hurdle. Even when the economy is strong, banks cast a wary eye on entrepreneurship. For those of you wondering how hard is it to get a small business loan we’ve prepared a guide to help you prepare for and the steps to take when applying for financing.

explaining how hard it is to get a small business loan

How to Get a Small Business Loan

  • Traditional Bank Criteria: Lending standards vary with the institution. Before you apply be aware that the following are factors under consideration at conventional lending institutions for every applicant.
    • Loan Collateral
    • Personal and business credit history
    • Financial statements for applicant and applicant’s business as well as financial projections for said business.
    • Business plan
    • Personal guaranties from business principals
  • Getting a Loan at National Business Capital & Services:
    • Limited Documents
    • Not solely based on personal or business credit
    • No financials required
    • No business plan needed
    • Approvals within 24 hours and funding within days

Make sure you see us first! If you have poor credit history or have been previously been turned down by a traditional bank we can help. We approve 90% of loan applications we receive.

How to Apply for Easier Small Business Loans

Even if you have only been in business for 6 months and need to know how to get a small business loan, we can help you obtain financing with our simple and FAST application process.

For more information, fill out our application form or call us at (877) 482-3008.

National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!

About the Author, Megan Capobianco

Megan Capobianco is the Marketing Manager at National Business Capital & Services. Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.