A High Credit Score Does Not Guarantee Loan Approval for Business Owners

As the economy rebounds, business owners are becoming more optimistic. Thriving startups as well as established businesses, however, are finding it harder and harder to obtain business loans from traditional banks. Since 2008, overall business lending has decreased by 15% across the board. Entrepreneurs with excellent credit and cash reserves in the bank are time and again being turned down due to banks’ reluctance to loan to smaller businesses instead of the larger corporations.