Monday, 19 March 2018

Information and commentary for the small business banking industry

Small business lending alternatives

19 Jan

No bank wants to decline a loan application, but sometimes there’s no alternative. There is, however, an alternative for the applicant.

When you’re putting together the small business section on your bank’s website, it’s a good idea to help dispel some of the myths around small business lending. Providing resources that offer advice and guidance around small business lending and the options that are available to small businesses can greatly improve your relationship with them.

For instance, a new small business owner, shopping around bank websites for the best deals, maybe under the illusion that new businesses don’t qualify for loans, or that if they are declined, there’s nowhere else they can turn. Showing them that they have alternatives and providing them with advice on preparing successful loan application could be what’s needed to bring that customer in your doors.

The below article looks at some of the myths around small business lending – a handy piece to show your customers.

Read the full article at:

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