So What If You Don’t Qualify For Traditional Bank Financing?
(What Are You Going To Do?)
Without question you have worked incredibly hard! To get your business and or service off the ground, correct?
(I’m sure you have!) And just like the rest of us. Who are still at it! Whether you primarily work on or offline. You/we have definitely had our share of ups and downs, agreed? (For sure!)
So the time finally comes. When you need to apply for some traditional bank financing. You do so! And your loan requests gets rejected! Now what?
So What Happens When Your Local Bank Or Credit Union Says No?
At this point. The vast majority of extremely hard working entrepreneurs. Regardless of whether you primarily market on or offline. If or when the time comes. And you need either a business or commercial loan of some kind.
And you get all of your paper work together. (Or you apply online.) In both the US and certain parts of Canada. There’s a very good chance. Your banker and or credit union. Will point you in the direction of the SBA/Small Business Administration.
And you will basically be offered two variations of the same/taxpayer funded loan program. Either the SBA 7 (a) loan program. Or the SBA 504 loan program.(But here’s the thing ladies & gentlemen.) Typically on average, only around 15% of the applicants who apply on or offline. Will qualify for either loan program!
Sadly Most Small Business Loan Requests Gets Rejected!
The other 85% or so will not! The primary reason being. Those loan programs. Really cater to the business owners with 700 plus credit scores! And they’ve usually required to be in business. For at least two -three years minimum!
And you may also need some type of collateral or some other fixed asst! (Appraised at X!)
And sadly, most small business owners, tech startups and or non franchised service providers. Simply can’t or don’t meet the requirements!
About 85% of the applicants gets rejected! And when they do! Their dreams of expansion come to a grinding halt! (And this definitely doesn’t have to be the case!)
You Definitely Want To Grow Your Business And Or Service! (You Just Don’t Want To Have To Give Up Some Equity To Do It!)
On the other hand. There may be some extremely savvy Angel/Equity/Investors around. Who will invest in your company. But in that case. They’ll want some equity ownership interests!
But let’s say some potential equity investors. Have absolutely no interest in -invest in your company/service!
And both your local banks and credit unions. Have repeatedly denied your loan requests! Where do you go from there?
My friend, that’s when you turn to www.reallyquickloans.com. There’s no closing costs! (If you qualify!)
Approvals are extremely fast! You can receive your much needed cash! Typically within 7 business days or less! If you don’t need this particular service. But you know someone who does!
By all means send them the link asap. In the meantime. Do you now have a much better idea what you need to do asap? If you don’t or can’t qualify for some traditional bank financing?
(Extremely important note: I earn a commission. For every loan I help the lenders close! I just thought you should know!)
You Do Have More Viable Options Than You May Currently Realize!
Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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And they’re pro-actively looking for potential guest speakers. Please don’t hesitate to-either- pass their name and contact information directly to me or vice versa! Thanks!
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(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on marketing your small business or service. I Recently appeared on.)
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