Did You Ever Have Problems With Securing a Business Loan?

[Nomad]

Without collateral, you won’t qualify for a loan. But having a collateral isn’t enough for securing a bank loan. You might also need to have a business that is already functional so that the banks can trust you. Securing a loan from a bank is much easier if your business is operational and if you have collateral. In our country, business loans can be processed in about a week. Did you ever have problems with a business loan?

 

[Min George]

I have never applied for a business loan before. And I have heard that a business loan is quite difficult to get here. They always need guarantors for such loans.

 

[Augusta]

I'm yet to get a business lodm but I know that I would not have issues with it if I decided to and that's the truth.

 

[Suba]

Although I've never taken out a loan for business capital, in my country, there are special loans for small and medium-sized businesses where business owners don't need collateral, so they only need to prove their business, including location, sales turnover, financial statements, etc.

 

[eLdavis]

Have never tried securing one before, but am pretty sure i might have one due to the fact that my business has not been officially registered yet.

 

[Augusta]

It is not even good to have issues with securing loans especially if you are really in need of the loan

 

[Kross]

There was a time that I asked a bank for a business loan and they refused to give me. Getting a loan is pretty difficult for small businesses.

 

[Starmix]

I have not experienced it. I started my business with my own money. I saved money when I was 11 years old and up to the time that I got a job after my college graduation. I'm scared of that thing applying for a loan for a business capital. It's best to save and accumulate it, then have it as capital of your first business.

 

[Augusta]

Some poor business credit score · Inadequate cash flow and maybe Lack of collateral ·