7a SBL Banks only looking at personal credit?
by Harrisoutdoors, Window Shopper
- Created: June 1, 2014, 10:54 am
I have worked with two banks now. We are a relatively young company. We are a current workforce of 4 but we had to lay two people off due to lack of funds and a shift from doing ecommerce to a combination of a brick and mortar store AND Ecommerce that has cost us a lot of upfront money. It seems that the two banks that I have worked with so far are not really interested in using the government backed SBL. They try and get us approved based mainly on our own credit and when they see our credit scores they stop. Our credit is not bad it is just not great. We have a perfect payment history over the last 3 years. It seems that they do not like to take the time to do the paper work or they do not make as much money using the Government secured SBL? Any help or insight would be great. Bob
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