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7 reasons why lenders turn down business loan applications

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MyMoneyMantra
MyMoneyMantra

there are some things you should be aware of while applying for a business loan,

Business
1 of 2
7 Reasons Why Lenders Turn Down Business Loan Applications
1. Low personal credit score 2. Victim of an identity fraud 3. Incomplete paperwork and not asking for enough money 4. Your industry may be under a high-risk category 5. Lack of collateral 6. High debt utilization 7. Multiple Loan applications

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7 reasons why lenders turn down business loan applications

  • 1. 7 Reasons Why Lenders Turn Down Business Loan Applications
  • 2. 1. Low personal credit score 2. Victim of an identity fraud 3. Incomplete paperwork and not asking for enough money 4. Your industry may be under a high-risk category 5. Lack of collateral 6. High debt utilization 7. Multiple Loan applications