Why Is It Difficult For a Business to Get a Business Loan?
It is only difficult for some businesses to get loans. The main reasons why a business is denied for a loan is that they don’t have enough of a track record, and they have too low of revenue.
What that means for a lender is that they’re not confident enough that you’ll be able to make repayments on your loan, so in those cases it will be difficult for a business to get qualified.
But if you’ve been around for more than a year, if you generate more than $10,000 a month in revenue, then you will have no problem getting approved for a loan.