The banks way of saying no is getting more and more boring and through press and past experiences it’s quite tiresome for all of us to hear. We know every business needs finance and through the extensive application of sometimes absurd lending criteria the banks continue make it increasingly harder for SME’s to obtain it. The unfortunate truth is that the majority of declined business loan requests are through bank applications and people are now more inclined to find alternative routes to obtain finance.
If you are looking for business finance a good starting point is to start to think outside the box. Banks are no longer our trusted friend and brokers are no longer seen as an added expense. Banks shouldn’t necessarily be our initial port of call – so if you need finance you need to begin assessing all your options in order to obtain it.