- Banks Often Deny Business Lines of Credit – Many business owners start with their primary bank, but banks often decline applications and instead push high-interest business credit cards (11%-30%).
- Maximizing Approval Chances – Working with multiple banking partners increases the likelihood of finding a lender that fits your qualifications and approves your line of credit.
- Hidden Qualification Requirements – Traditional banks may not disclose approval criteria upfront, but partnering with experienced financial services can match you with the right lender.
When applying for a small business line of credit, what the best way to apply?
Now the majority of business start off with the bank they old a business checking account with. Most people think that because you have some history with this bank you may have actually relationships with people at the bank.
From our feedback with business owners, their bank usually doesn’t approve their business for a line of credit. This is because banks much rather sell your business a credit card, because they can charge anywhere from 11% to 30% in interest rates.
Maximize your potential for approval! This is the nest way to apply for a business line of credit. We have worked with hundreds of small business bankers, so you can rest easy knowing that at least one of our banking partners will approve your business. Depending on the bank different qualifications are needed for approval, and oftentimes a banker wont tell you the requirements upfront.
