What is the typical interest rate on a business loan?

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Top 7 Reasons Why Lenders Reject Business Loan
Applications

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Here are some factors lenders take into
consideration before granting business loans

• Financial stability is an inevitable need for a
  business. Small and medium-scale businesses are
  suffering due to insufficient funds and financial
  void during the pandemic. A business loan has
  been a relief to such struggling entrepreneurs
  with positive energy. However, the eligibility
  criteria are high along with various
  prerequisites that are working against the
  borrowers. There are various reasons behind a
  loan application rejection. If you try to find
  out the reasons behind the loan rejection, you
  can do better. It will help you report the
  loopholes and next time meet all the eligibility
  to apply and get positive approval.

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What is the rate of interest?

• A bad business plan with loopholes and areas for
  improvement. A business plan can either be
  convenient or give you a rejection from the loan
  provider. You need to draft your business plan
  very carefully. Make sure you draft it
  meticulously with all the right information.

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Factors that decide the rate of interest

• A bad business score will give you a rejection.
  The business credit score can be the foremost
  reason behind your business loan application. In
  that case, if you compare, an easy home
  loan comes with low rejection rates.
• Misplacement of documents can give you a
  rejection. If you are not able to place all the
  required documents at the table, you will not get
  approval. It is important to offer everything
  that your loan provider wants to seek out.

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Grow and develop your business

• Improper bank account and cash flow statement. If
  your cash flow is not in a good situation it will
  give you a rejection. Make sure you work out on
  it before you apply for a business loan. It is
  important to understand that the credit side
  should always be heavier than the debit side.
• Lack of transparency will give you a rejection.
  If your business does not portray what you try to
  convince your loan provider with, you will not
  get approval. The loan providers are very
  particular when it comes to business loan
  approval. If you check the application for the
  home loan process, you will find the right way.

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Borrowing with bad credit

• The process of a business loan can be easily
  compared with the process to avail housing loan.
  It will need a good eligibility criteria standard
  for getting loan approval.

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Clix Capital Services Private Limited

• Address
• 901b, 9th Floor, Two Horizon Centre, DLF Phase V,
  Gurgaon, Haryana, India 122002
• Phone Number 1800 200 9898
• Email us at  hello_at_clix.capital
• Website www.clix.capital

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