Bank finance articles and tips

When looking for working capital financing, you go to either a local credit union or bank and fill out the application for the loan. Afterwards, the loan officer asks you to wait here while he goes into another office and while you are waiting you are nervous about what he is going to tell you and minutes become hours. When the loan officer returns he may just give you good news and you can walk out the door as a happy camper. However, when that is not the case he may offer you the loan but at a much higher interest rate and that you will need to pull out more money, that you don't need, in order to be approved for the loan. This is the process most small business owners face when they go in to ask for working capital financing....