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Applying for a Small Business Loan? You Need to Know About These 7 Hurdles

Applying for small business loans can be frustrating, and according to some surveys, lenders reject roughly 66 percent of applications. Three of the most common obstacles to getting SBA 7a loans are poor credit scores, lack of business assets and no business plan, but beyond that, there are other hurdles in the process.

To improve your chances of getting your 7a small business loan application approved, you need to understand and avoid the following hurdles.

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