Equipment Financing Consultant and Financing Specialist that Businesses Trust to Meet Their Financing Goals
Expectation vs Reality
Think that the time is right to execute growth strategies? Need new equipment to keep up with customer demands, accelerated hiring and new government regulations? Have a back-up plan just in case every lender in town rejects your loan approval? At the beginning of each financial year, almost 90% of companies, start-ups and self-starting entrepreneurs feel enthusiastic to implement action plans.
Unfortunately, less than half of them are actually able to move forward with their plans. The reason? A lack of the necessary financial resources. Too many companies are turned down for business loans while others have to jump through hoops before they're finally approved for the funds they need. Facts on obtaining a business loan While banks and lending institutions have their own standards for approving and making business loans, they will consider certain essential criteria such as your business and personal credit history, cash flow projections for at least one year, reasonable to strong collateral, and personal guaranties from all principle owners of the business.
Small businesses and start-ups, in particular, have a tough time getting a loan. Lenders want to know if your business is a high-risk or low-risk investment, whether or not it has a proven business model, your prior successful or unsuccessful business ventures, and the extent of your personal debt, if any.
When trying to obtain a loan to either start or further expand your business, you should consider hiring an Loan Broker. A loan broker is the intermediary agent between a borrower and lender that helps bring everyone under one roof to secure the loan request. A loan broker consults with clients to determine their banking & financial service needs by proactively matching the appropriate funding source that best suits their current credit & financial position. Since most loan brokers have a wide range network of lending resources within their network, the chances of an approval is more than 90%.
In addition to that, a loan broker walks you through the entire loan process from beginning to end and assist you will completing the necessary documentation needed to have the deal funded and complete.