Banks are the largest lenders for small businesses across the United States. But getting a traditional bank loan for a small business is often a huge challenge. About 72 percent of small businesses that apply in fact get rejected. That’s because traditional banks require businesses to meet several criteria to secure financing.
It doesn’t however mean that you cannot secure financing from a conventional bank.
If you are a small business owner, you should first understand the kind of loans and financing options available at a traditional bank.
