Access to affordable capital is fundamental for a small business. The process for applying for a small business loan can be complex. Make one of these mistakes and you could get denied despite having good credentials. PennyGem’s Johana Restrepo has more.
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00:00access to affordable capital is fundamental for a small business the process for applying for a
00:10small business loan can be complex make one mistake and you could get denied despite having
00:16good credentials according to nerd wallet one common mistake business owners make is not finding
00:22the right lender experts recommend you thoroughly research and understand the lending market and
00:28your business's current finances then search for local resources that can guide you in the right
00:35direction the specific information you will need varies from lender to lender so don't rush this
00:41process this may lead you to hand in the wrong documents and will get your application denied
00:47another mistake small business owners make is going through the application alone while running
00:53their business contact your accountant attorney or local small business development center for help
00:59gathering all of your documents lenders rarely are able to help you with this