{"id":4733,"date":"2019-10-23T09:00:42","date_gmt":"2019-10-23T14:00:42","guid":{"rendered":"http:\/\/hoorfarlaw.com\/blog\/?p=4733"},"modified":"2019-09-30T11:43:03","modified_gmt":"2019-09-30T16:43:03","slug":"demystifying-the-business-loan-approval-process","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=4733","title":{"rendered":"Demystifying the Business Loan Approval Process"},"content":{"rendered":"\n

The following 18 red flags will help to maximize chances at\nreceiving a denial of a business loan applications:<\/p>\n\n\n\n

  1. No Budget<\/li>
  2. Minimal Understanding of Your Numbers<\/li>
  3. Poor Credit Score or Credit References<\/li>
  4. Interest Rate is Your Primary Concern<\/li>
  5. Excessive Dependencies<\/li>
  6. Instability, High Variability<\/li>
  7. Poor Communication<\/li>
  8. Turnover Ratios Lengthening<\/li>
  9. No Skin in the Game<\/li>
  10. Responding Piecemeal to Financial Requests<\/li>
  11. Growth and Expansion That is Too Fast<\/li>
  12. Overall Cash Flow<\/li>
  13. No Management Team<\/li>
  14. Overly Complicated Ownership Structure<\/li>
  15. Tax Income is Different than Book Income<\/li>
  16. Slow to Provide Timely Financial Information<\/li>
  17. Fighting or Unrest Between Management, Partners, or Family Members<\/li>
  18. No Estate Plan<\/li><\/ol>\n\n\n\n

    Although basic financial criteria must be met, overall impression, work style, and the ability for the bank and business owner to develop a trust-based relationship matter. <\/p>\n\n\n\n

    \"\"<\/figure><\/div>\n\n\n\n

    If you would like to speak to an attorney regarding a business matter, call our law office at 816-524-4949 or visit our website at Hoorfarlaw.com. <\/p>\n","protected":false},"excerpt":{"rendered":"

    The following 18 red flags will help to maximize chances at receiving a denial of a business loan applications: No Budget Minimal Understanding of Your Numbers Poor Credit Score or Credit References Interest Rate is Your Primary Concern Excessive Dependencies … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4733","post","type-post","status-publish","format-standard","hentry","category-general"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4733"}],"version-history":[{"count":1,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4733\/revisions"}],"predecessor-version":[{"id":4734,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/4733\/revisions\/4734"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}