The long aged mystery will now be solved! First, why such a mystery?
It was never a policy of the banks to explain the process they go through to evaluate your business to determine if and how much of a business line of credit it would qualify for. It has always, until now, been a reactive process.
About two years ago, I worked with a national bank to break down their lending process for start-up business owners. As you know, banks do not educate you on how they lend money.
The financial world has changed dramatically over the past 12 months. With the financial collapse and government bail out of banks you would think all is fine and banks are ready to lend you money because, after all, that is how they make money! Not really.
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