According to the National Small Business Association over 22 million businesses are unable to get adequate financing.
Since the economic crisis, many banks appear unable or unwilling to lend affordable capital to any business that doesn’t meet their extremely high standards of a “creditworthy” business.
Banks look at personal credit reports, with particular attention to your FICO score, payment history and public records data.
As a result many businesses don’t have a relationship with their local bank and the lack of obtaining financing has prevented:
- The economy from growing
- Demand from increasing
- & Employment from shrinking