Why Linear Advisory?We help any business (small or big) get the funds they need to grow. Our rates will beat any of our competitors and our terms are flexible to suit your business. No matter what you need the funds for or what industry you operate in we have a funding solution for you.
Factors that keep you from getting a business loanBusiness loans are not easy to secure. Below are some factors those may be preventing you from getting the funding you need.
- Poor credit history - Credit reports are one of the tools lenders use to determine a borrower's credibility. If your credit report shows a lack of past diligence in paying back debts, you might be rejected for a loan.
- Limited cash flow - Cash flow, a measure of how much cash you have on hand to pay back a loan – is usually the first thing lenders look at when gauging the health of your business. Insufficient cash flow is a flaw that most lenders can't afford to overlook.
- Lack of a solid business plan - Having a plan and sticking to it is much more attractive than spontaneity in the finance world. It also gives you a better chance of getting a business loan.
- Too many loan applications - Some business owners assume they can cover all their bases by applying for multiple loans at one time. This way, they can pick and choose from a range of potential offers. However, opening too many loan applications at once can be a red flag for credit bureaus.
- Disorganization - Before approaching potential lenders, business owners should have their act together. That means having all the paperwork necessary for your loan application on hand.
- Failure to seek expert advice - When you apply for a business loan, lenders want to see that you've sought guidance from knowledgeable advisors.