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.
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 financing 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!
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.