Small businesses are so important to the success of our economy. Though most of us simply picture a two- or three-person operation run from home offices, a model that does exist in 52% of all small businesses, they aren’t to be discounted. About 65% of all new jobs created since 1965 have come from small businesses. Despite their immense impact on the nation’s markets, many are still left out in the cold by business lenders, even when they need support for basic operations. Indeed, 63% of all small business owners seeking loans cited cash flow needs as their motivation. Still, about half are left using personal credit to finance their companies.
It’s hardly a surprise that many business owners are abandoning banks and traditional lenders. In many cases, an owner needs a business loan fast
According to MD News, more and more medical professionals are using practice loans for small business expansion or to either start their own practices, hire more staff, or even to meet long term goals. Whether you need medical practice loans or dental practice loans, one of the most important things you can do to secure a loan is to articulate your need, and have a repayment plan ready for proposal.
A study from Pepperdine University found that the top reasons lenders declined clients were tied between the insufficient amount of the business’s cash flow, or because the company lacked sufficient collateral. This prov