A recent report showed that 63 percent of businesses seeking a loan chose a traditional lender, like a bank, to seek funding. However, only 23 percent of these businesses were successful in acquiring the loans. Even though the economy is in recovery, banks are still extremely conservative when choosing which businesses to lend to. This means that companies with bad credit have little to no chance of acquiring loans from traditional sources. Banks and payment processors will reject your merchant account or charge your business excessive fees for operating. Even if the BBB gives your business an A rating it […]
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