Business loan terms and approval in general varies depending on the market activities, local competitors, years of experience, quality to pricing of the products and services offered. Even though one business may be approved for the time being, does not guarantee this same business or similar businesses will be approved. Survival and demand are often the key factors of lending approval. Some business deficiencies can be easily solved to become approved. However, other businesses may require a lot more corrections to become approved. There is no standard checklist that can be approval guaranteed; however, basic guideline in all types of lending is the same. All investors want to see a certain level of potential success rate. The higher the potential success, the greater chances for businesses to be funded.
From our past experiences, more than 90% of startup businesses have no idea what requirements are needed to be funded. If you are serious in starting your own business or if you need more funding for your business, call or click on Contact Us to reach a Cornerstone Group team for consultation.