It can be frustrating when you are in desperate need of finance to expand your business and you get a resounding ‘no’ from your bank.
Why have they refused?
Very often it’s a reason which, if you had known about at the start of the process, you could easily have addressed.
The old saying ‘forewarned is forearmed’ is very apt in this case.
In this podcast BLS’s Rob Warlow talks about the 7 reasons why a bank would say ‘no’. Take notes and get yourself prepared for the next encounter with your bank!