5 Common Mistakes to Avoid When Applying for a Business Loan
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Neglecting Your Credit Score
A bad credit score takes away your credibility for future requirements.
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Lack of Documentation
Insufficient Documentation may result in rejection of loan applications.
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Overborrowing
Borrowing beyond requirement could make it difficult to pay back in the long run.
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Frequent Applications
Frequent application to multiple lenders simultaneously affects the credit score.
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Faking Financial Information
Providing false financial information leads to rejection of your application as well as damage credibility in the market.
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