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10 Easy Pointers When Acquiring An Awesome Commercial Business

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Buying a longtime commercial business has many blessings. The business is already geared up with skilled employees to function it and a current patron base. It …

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In this digital age, the internet has come to dominate our lives. It has simplified our lives and nowhere is it more evident than in online …

Things You Need to Know About Commercial Finance

A large portion of the first-run through purchasers will in general imagine that they have to approach banks with regards to orchestrating account. There are such …

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10 Easy Pointers When Acquiring An Awesome Commercial Business

Buying a longtime commercial business has many blessings. The business is already geared up with skilled employees to function it and a current patron base. It …

What You Can Do With Home Finance Software

Individual finance programming is otherwise called home finance programming. This is on the grounds that it is essentially close to home finance programming that you use …

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In this digital age, the internet has come to dominate our lives. It has simplified our lives and nowhere is it more evident than in online …

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In this digital age, the internet has come to dominate our lives. It has simplified our lives and nowhere is it more evident than in online …

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Reasons Why Your Business Loans Get Rejected

It is quite frustrating to get a business loan especially for those who are applying for the first time and are new entrepreneurs.

They tend to go back and forth with the licensed money lender on the application process and start ending up confused.

What is more disappointing in the process is when you end up getting rejected for the loan and don’t know what to do.

If you end up as one of those entrepreneurs who applied for a business and gets rejected, here are a few reasons you can look out for.

You failed to review and check your credit score before applying for a loan.

There are a lot of reasons on how a credit score is obtained. When it comes to business loans, your credit score plays an important role.

There are even some cases where your loan application to jurong east money lender gets rejected solely because of your credit rating. If you plan on getting a business loan, make sure you review this one first.

If your credit score is lower than what is usually required, make sure you work this up first before applying for the business loan.

Your business’ cash flow is way too low.

When you apply for any loan Singapore, one of the requirements that your lender will ask for is a business plan.

Your business plan should reflect your projected and actual cash flow. Without adequate cash inflow, there is a high probability that your loan would be denied.

Lenders and banks will want the business to be pouring in with cash. This will help them identify that there is little risk of not getting paid.

You are at an early stage startup.

It is very seldom that a bank or lender will grant a business loan to a start-up business.

Even those businesses who are operating at an early stage will find themselves lucky to be granted a business loan. Lenders and bank would want security from their borrowers.

One way to identify that a borrower is secured is through their duration in operating the business.

Longevity is proof that the business can withstand economic and operating challenges.