What types of small businesses will have a harder time getting a loan today?
Again, not surprisingly, companies that are in cash businesses, for example retail, will have a harder time getting a new loan – banks are still weary of the consumer’s spending behaviors – something we can all relate to! It bears repeating, there are exceptions, and companies that can demonstrate a strong personal credit history, self-invested positions, and succession planning will have a better shot at getting a loan, even if they are not in the best positioned category.
